Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
3 Cards in this Set
- Front
- Back
|
What makes up a Master (static) budget |
Prepared for one level of units (sales units) and used for long term planning. |
|
|
Advantages of Budgeting |
1) Forces managers to plan by defining goals, allocting resorces, foresee and correct future problems. 2) improves communication and coordinates activities and goals. 3) Provides expectations for improving performance. |
|
|
Keys to successful budgeting |
1) Top Management must be enthusiastic and committed to budget. 2) top management must be careful how budget is used. 3) budget should reflect realistic operating scenerios 4) Employees must have participation in budget process. |
