Accounting-05 Roehampton

Involves the measuring, reporting, analysing and giving feedback on budget performance. It is used to allocate responsibility and lays the foundation for measuring the operational efficiency. Budgetary control. Budgets. Budgeting.

The two types of control used in budget management are. Feedback and Forward. Budgetary control and budgeting. Fixed and variable costs.

It is the quantitative investigation of the difference between actual and planned behavior. It is used to maintain control over a business. Variance Analysis. Balance Sheet. Breaking-even point.

_________ are based on long-term planning of business organizations and hence assist in achieving ________________. Budgets, strategic organisational goals. Budgeting, strategic organisational goals. Budgeting, make the profits as planned.

Determination and attainment of goals, laying out of plans, making comparisons and finally, corrections or revisions, are the characteristics of: Budgetary Control. Variance Analysis. Income Statement.

The investigation of deviations in financial performance from the standards defined in organizational budgets. Variance Analysis. Budgetary Control. Income Statement.

The meaning of CIMA. Chartered Institute of Management Accountants. Commissioned Institute of Management Accountants. Chartered Institute of Management Appointed.

Variable that impedes the operation or growth of a business. Examples: sales demand, skilled labour, materials, shortage of power or finance. Limiting factor. Operational issue. Operational constraints.

_________is an estimation of the cash flows for a business over a specific period of time. It is used to measure whether the entity has _______________. A cash budget, sufficient liquidity to operate. A trade budget, sufficient liquidity to operate. A cash budget, sufficient inventories to operate.

Planning tool that a management team uses to direct the activities of a corporation, as well as to judge the performance of its various responsibility centers. Master Budget. Central Budget. Principal Budget.

The operating budget, the capital expenditure budget, and the cash budget are the components of the. Master Budget. Central Budget. Principal Budget.

Match the concepts. Budgets. Budgeting. Budgetary control.

Budget classification, match the concepts, two of each one. Time. Capacity. Scope. Recipients and Expenditure.

Basic Financial Statements, match the concepts, two of each one. Balance Sheet. Income Statement. Cash Flow Statement.

Financial Statements, match the concepts, three of each one. Balance Sheet. Income Statement. Cash Flow Statement.