Discuss the behavioral impact of budgets from the perspective of the cost related budgets and financial statements. How would you control for the undesired behavior of agents?
| A budget means predefine plan by an individual or company for spending it resources which is base on past experience and future expectation of the project. It help to understand and allocated the scare resources of the company to achieve the desire objective. It can be financial and non financial budget also. It is used for all types of projects. There are various types of budget like cash budget, performance budget, sales budget, production budgets, planning budgets, capital budgets etc. It used to know the actual output of the company. Budget is compare with actual result and variance analysis is done. It shows the enterprise long term and short term planning. |
|
When a organisation decides it long term and short term objectives, to achieve the same it manager and operational team set out the plan for achieving the same. Plan is achievable only if a budget is prepare by the company. Company need to prepare a budget which shows that how the overall objectives and goal of organization could be achieved. |
| When a organisation prepares a budget, set of controls are set to achieved the planned results. Controls are set at each and every level of planning for which budgets are prepared. At the end of year or month budgeted plan is compared with the actual results. Risk assessment is done on the basis of control and budget set. With the help of controls sets, management can be aware about the future predictable risk and helps to allocate the scare resources. |
| Controlling ensure in budgeting that actual results does not derive from the standards set. |
| How would you control for the undesired behavior of agents? |
| In the following ways controls can placed for the undesired behaviour of agents : |
| a. To predict the future cost. On the basis of it organization can know the out flow of cash |
| b.Comparision : Management is able to compare the actual and standard data on the basis of budgeted figure |
| c. Future forcasting |
Discuss the behavioral impact of budgets from the perspective of the cost related budgets and financial...
Budgets and Standard Costing: Evaluate the different types of budgets and discuss how operating and financial budgets are prepared for a manufacturing company. Discuss the use of budgets and standard costs to control business activities. Explain how standard costs are used to determine variances.
Discuss the impact of this event on Wells Fargo’s financial statements. Specifically, discuss how the alleged inappropriate sales practices would have been reflected in Wells Fargo’s financial statements in the 2011 through 2014 time period. Also, discuss how the $185 million fines might be reflected in Wells Fargo’s 2016 financial statements.
Describe the role of parents and discuss how different parenting styles impact adolescents’ behavioral outcome.
Discuss the importance of budgets in enhancing the financial and non-financial performances of an organisation. Explain how participative budgeting may assist the budgetary process in a decentralised organisation. Your discussion should include the role of budgets: ◦ in performance measurement of divisions and divisional managers.
Discuss your perspective on how technology may impact economic growth, particularly regarding the various sources of energy.
Critically evaluate and discuss the issue of corporate social responsibility from the perspective of Business,Government and Society and how are they inter- related?
Explain the value of analyzing organizational behavior from the individual, group, and organizational perspective. What do you think is the benefit of understanding these three and their impact to organizational behavior overall?
Discuss the importance of procurement on a company’s financial reporting and impact on savings. Identify the different financial documents and procurement activities/decisions show in the financial reporting and how these numbers are impacted.
there are a host of accounting issues that impact the financial statements of international corporations. Please discuss one topic, such as international accounting standards, and explain how they affect the preparation of consolidated financial statements for international companies. Please comment in 200 words or more, using proper citation if applicable.
Today, there are a host of accounting issues that impact the financial statements of international corporations. Please discuss one topic, such as international accounting standards, and explain how they affect the preparation of consolidated financial statements for international companies. Please comment in 200 words or more, using proper citation if applicable.