1. What is the difference between strategic and operational plans?

Q: What is the major benefit of tying a budget to the overall goals of the compan

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: In fiscal management of an LRTC: Why should we justify the budget? How can we develop cost-effective…

A: As per our protocol we provide solution to the one question only but as you have asked multiple…

Q: Discuss why budgets are so important for all organizations. Describe some advantages and…

A: Budgets are an indispensable part of business organizations because they assist business…

Q: Why is the sales budget so important to the budgeting process?

A: Budget:   It is a statement of estimated revenues and expenditures set for a specific period of…

Q: ‘Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: A budgeting system helps an organization to plan and decide the amount to be spent in a particular…

Q: Match the definitions 1 through 8 with the term or phrase a through h. a. Budget e. Master budget b.…

A: Budget:   It is an estimated financial plan for future time period. It is used by management as an…

Q: It’s a general saying that Companies having proper management of “Future Cash Budgeting” are…

A: Budgets are short-term plans for how firms will function, spend money, and earn income and earnings.…

Q: 5. (a) The cash budget is indispensable to the financial manager in determining the short-term cash…

A: A cash budget is a forecast of cash inflows and outflows for a given time period. Cash budgets are…

Q: Budgets

A: following statements is true.

Q: QUESTION 1 Which of the following statements is false about cash budgets? O Cash receipts are…

A: In case of multiple questions, we are allowed to solve only the first question. If you want other…

Q: What are the benefits of tying a budget to the overall goals of the company?

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: What are the risks and benefits of both internal and external budget preparation?

A: Budgeting is a process in which selected organizations and individuals are assigned certain…

Q: Help question 11

A: A budget means a financial plan. Budgeting is a process to prepare and communicate certain broad…

Q: Which of the following is true of a budget? O A. Budgets help managers to revise their plans and…

A: Introduction: Budget: Budget means an estimation for future period with past period data. Branches…

Q: . What data might you need to collect, and from whom, in order to construct a cash flow budget?

A: solution: What data might you need to collect, and from whom, in order to construct a cash flow…

Q: Explain why budgets are useful and how management philosophy can influence the budget process.

A: Budget is the estimated data which is prepared or estimated in advance, in simple terms before…

Q: The accountant perspective of the budget views the budget as a rational decision-making tool? True…

A: Budgeting is the process of estimating the profitability, business requirements like production…

Q: What are the major objectives of budgeting? Briefly describe the type of human behavior problems…

A: 1. Objectives of budgeting: Anticipation of future financial condition and future needs for funds…

Q: 1. Financial Forecasting vs. Financial Modelling. Explain the difference.

A: In finance we often use financial forecasting as well as financial modelling. Though both financial…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: Out of the following options please tell me which are two dimensions or the main aspects of…

A: Budgeting is the process of making a plan for how person or organization will spend the money. A…

Q: Which statement about the cash budget is correct? It is also called the statement of cash flows. It…

A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…

Q: Focusing on improving the activities that are showing significant differences between budgeted and…

A: Management by Exception is a management strategy which focuses only on the deviations of actuals…

Q: Why is a clear understanding of management’s goals and objectives necessary for effective budgets?

A: Budgeting is a process of planning future expenses and income so that an organization ensure the…

Q: A cash budget and an income statement have many similarities. What are the main differences between…

A: Budget is an estimation of expenses and revenues over a future period which needs to be rechecked…

Q: Why do successful companies tend to use the bottom-up approach to establish a master budget?

A: The bottom-up approach increases the efficiency and productivity of the employees as the budget is…

Q: Which of the following statements is NOT correct? a. The cash budget must be prepared prior to the…

A: Cash Budget: A cash budget is a forecast of a company's cash flows over a set period of time. This…

Q: Which of the following is true of budgeting? a.Budgeting relies on the control cycle to design the…

A: Introduction: Budgeting: Budgeting is an planning or an estimation for the future. Types of budgets:…

Q: When developing a budget we focus first on sales. Why do be begin with sales? What are some of the…

A: Budgeting is the process of estimating the revenues, expenses and profitability of the business for…

Q: true and false a. Developing a budget is a critical step in planning any economic activity. This is…

A: Budget is needed for all businesses, governmental agencies as well as for individuals.

Q: 1. What is budget? 2. How does budgeting become a useful tool in business? 3. What are the different…

A: ''Since you have posted a question with multiple parts, we will solve the first three sub-parts for…

Q: When preparing a cash budget, once a firm has estimated its cash receipts the firm must…

A: There are various steps in preparation of cash budget

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A: The budgeted income statement is like other income statements which shows all the expenses and the…

Q: You are in the process of creating your department's projected operating budget. As you create this…

A: The Operating Budget for a department refers to making forecasts for future figures of the…

Cash budget

A cash budget is an estimate of an organization's cash flow for the future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.