Any comments on the possibility of budget padding?Is this concept the same as budgetary slack?
Any comments on the possibility of budget padding?Is this concept the same as budgetary slack?
Homework Answers
Solution:
Budget padding: Budget padding can be used as performance boosting technique. It can be said a switch which controls the expenses and increases the revenue and income.
Under budget padding, designed budget is inflated deliberately when submitting for approval in order to gain larger income than budgeted and making the expenses lesser than in actual budget. A practice of understating the revenues and overstating the expenses is used.
Whenever a new big project is taken up, budget padding can be helpful practically in such case in covering up the expenditure within the actual budget by overstating it.
It is same as budgetary slack.
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Any comments on the possibility of budget padding?Is
this concept the same as budgetary slack?
What are effective strategies to reduce "budget slack" or "padding the budget”?
What are effective strategies to reduce "budget slack" or "padding the budget”?
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Ethics and budgetary slack
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DOLLLILLIOLI Budgetary Slack Topic: Budgeting/Standard Setting Characters: Jennifer, a cost accountant working in a manufacturing division of a large corporation Ron, the budgeting and standards supervisor and Jennifer's superior in the accounting department Jennifer has been working on next year's budgets for some of the division's products. After Ron looked over her work, he called her into his office. Ron: "Jennifer, the budgets look pretty good, except that your estimates of materials costs seem too low." Jennifer:...
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Answer all questions
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Answer all questions
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Which of the following statements is correct? The direct materials usap budget and the capital expenditures...
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(1) Was the budget adjusted during the year?
(2) If so, which accounts if any were adjusted and by how
much?
(3) In total, has Budgetary Fund Balance increased, decreased, or
remained the same during the first fiscal quarter?
(1) Was the budget adjusted during the year? (3) Has Budgetary Fund Balance increased, decreased, or remained the same during the first fiscal quarter? Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Encumbrances Encumbrances Expenditures Increase Decrease Balance Expenditures Balance Appropriation Dr (Cr)...
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DOLLLILLIOLI Budgetary Slack Topic: Budgeting/Standard Setting Characters: Jennifer, a cost accountant working in a manufacturing division of a large corporation Ron, the budgeting and standards supervisor and Jennifer's superior in the accounting department Jennifer has been working on next year's budgets for some of the division's products. After Ron looked over her work, he called her into his office. Ron: "Jennifer, the budgets look pretty good, except that your estimates of materials costs seem too low." Jennifer:...
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DOLLLILLIOLI Budgetary Slack Topic: Budgeting/Standard Setting Characters: Jennifer, a cost accountant working in a manufacturing division of a large corporation Ron, the budgeting and standards supervisor and Jennifer's superior in the accounting department Jennifer has been working on next year's budgets for some of the division's products. After Ron looked over her work, he called her into his office. Ron: "Jennifer, the budgets look pretty good, except that your estimates of materials costs seem too low." Jennifer:...
Answer all questions
DOLLLILLIOLI Budgetary Slack Topic: Budgeting/Standard Setting Characters: Jennifer, a cost accountant working in a manufacturing division of a large corporation Ron, the budgeting and standards supervisor and Jennifer's superior in the accounting department Jennifer has been working on next year's budgets for some of the division's products. After Ron looked over her work, he called her into his office. Ron: "Jennifer, the budgets look pretty good, except that your estimates of materials costs seem too low." Jennifer:...
Answer all questions
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Which of the following statements is correct? The direct materials usap budget and the capital expenditures budget we both determined from the production budget (h) The peneral and administrative operating expenses budget is used as input for the bacted statement of cost of goods manufactured c) The direct materials purchases budget is determined from the direct materials usage budget (d) The budgeted income statement is the first budget prepared in preparing the master budget. 23. When management seeks to achieve...
(1) Was the budget adjusted during the year?
(2) If so, which accounts if any were adjusted and by how
much?
(3) In total, has Budgetary Fund Balance increased, decreased, or
remained the same during the first fiscal quarter?
(1) Was the budget adjusted during the year? (3) Has Budgetary Fund Balance increased, decreased, or remained the same during the first fiscal quarter? Appropriations, Expenditures, and Encumbrances Ledger Encumbrances Encumbrances Encumbrances Expenditures Increase Decrease Balance Expenditures Balance Appropriation Dr (Cr)...
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