Accounting

1. What is Comprehensive budget?

A comprehensive budget—that is, a budget covering all aspects of financial life—will include a projection of recurring incomes and expenses and of nonrecurring expenditures. Recurring incomes would be earnings from wages, interest, or dividends. Recurring expenditures may include living expenses, loan repayments, and regular savings or investment deposits. Nonrecurring expenditures may be for capital improvements such as a new roof for your house or for purchases of durable items such as a refrigerator or a car.

2. What is Flexible budget?

A flexible budget is a budget that adjusts or flexes for changes in the volume of activity. The flexible budget is more sophisticated and useful than a static budget, which remains at one amount regardless of the volume of activity.

3. What is budgeting expenditure?

In an Expenditure Budget, capital expenses are described in terms of the construction, refurbish, lease or buying of assets like software, machineries and other facilities. As an integral part of the Expenditure Budget, the calculation of capital spending is based on the submission of facts for acceptance, from various portfolio departments to the Administration.

4. what is static budget?

A static budget is a budget that does not change as volume changes. If a company’s annual master budget is a static budget, the budget for sales commissions expense will be one amount. A type of budget that incorporates anticipated values about inputs and outputs that are conceived before the period in question begins. When compared to the actual results that are received after the fact, the numbers from static budgets are often quite different from the actual results.

5. what is imposed budget?

The budget that is prepared by the managers of all level and includes their full participation and cooperation is known as self imposed budget. It has following characteristics:

* Judgments of juniors are valued by top

* They create...