What are the needs of budget revision? It is a well-known fact that budget is prepared for future. Future is uncertainty. Hence, there is a need of revision
Need and Importance of Budget report The mere preparation any budget does not bring any benefits to the organization. The reason is that the preparation of budget is
What is a Master Budget? Master budget acts as summary budget incorporating its component functional budgets and which is finally approved adopted and employed. Definition of Master Budget
What is flexible budget? A budget, prepared for different levels of activities is called flexible budgeting. The flexible budget is otherwise called as variable budget, dynamic budget, sliding
Definition of fixed Budget The Institute of Costs and Management Accounts (U.K) defines a fixed budget as “Fixed budget are those that are drafted to remain the same
Advantages of reporting to management The following advantages are available through reporting to management system. 1. It helps the management to understand functional areas of an organization. 2.
The following process may be followed to write a report. The process has various stages. 14 important stages in writing a report are explained briefly below. This is
A good reporting system helps the management in proper planning and controlling. If the reports are available to every level of management at the proper time, current activities
The presenting report should satisfy the needs of various levels of management. The levels of management can be divided into three categories. They are, 1. Top level management.
The following steps should be taken while initiating the installation of reporting system in an organization. Steps in installation of reporting system 1. The functional areas of the