Fixed Budget
Jennifer edwards A fixed budget is the financial plan designed and implemented by the management that is not changed or altered throughout the accounting and budgeting period. It remains same and uniform…
Production Budget
Production budget can be defined as the estimation or calculation of total number of units of products that must be manufactured in that budgeting period in order to achieve estimated…
Sales Budget
A sales budget is representation of the expectation of a company regarding its sales both in terms of units and cash for that particular budgeting period. If a company covers…
Participative Budgeting or Self Imposed Budgeting
Rubab Ali Participative Budgeting or Self Imposed Budgeting: Learning Objective of the article: Define and explain the term "self imposed or participative budgeting" in managerial accounting. Explain the importance and use of…
Participative Budget Definition
Participative Budget Definition: A method of preparing budgets in which managers prepare their own budgets. These budgets are then reviewed by the manager's supervisor, and any issues are resolved by…
Material Budgeting | Direct Materials Budget
Shamsa Rafique Material Budgeting | Direct Materials Budget: Learning Objective of the article: Define and explain direct materials budget or Materials Budgeting. Prepare a direct material budget including a schedule of expected…
Budgeted Income Statement
Budgeted Income Statement: Definition and Explanation: A budgeted income statement can be prepared from the data developed in: Sales budget Ending finished goods inventory budget Selling and administrative expense budget…
Budgeted Balance Sheet
Budgeted Balance Sheet: Definition and Explanation: The budgeted balance sheet is developed by beginning with the current balance sheet and adjusting it for the data contained in other budgets. Example…
Budget Committee Definition
Budget Committee Definition: A group of key management persons who are responsible for overall policy matters relating to the budget program and for coordinating the preparation of the budget.
Budget Committee
Budget Committee: Learning Objective of the Article: What is a budget committee? What are the functions and responsibilities of a budget committee? Definition: Budget committee is a group of key…
Production Budget
Robert Learning Objective of the article: Define and explain production budget. Prepare a production budget.(Formula and format) Definition and Explanation of Production Budget: The production budget is prepared after the sales budget. The production budget(budget…
Sales Budget
Sales Budget: Learning Objectives: Define and explain sales budget. Give and example of sales budget. Contents: Definition and explanation of sales budget Example Definition and Explanation: A sales budget is a detailed schedule showing…
Master Budget
Master Budget: Learning Objective of the Article: Define and explain the term "master budget". What are the parts / components of master budget? What are its advantages and disadvantages? Give example…