Question

what does organisation monitor in terms of measuring budget performance ?

what does organisation monitor in terms of measuring budget performance ?

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Answer #1

Answer In terms of Budget Performance measurement, Organisation lays down the standard costing schedule based on previous trends, current market scenarios, industry analysis as well as customer expectations.

And when the Actual performance is being done, company measures the actual performance with the standard performance as set in advance.

If there are favorable variance, it means company has utilized its resources in efficient and effective manner.

However, if there are Un-favorable variances, that implies company has deviated from standard performance benchmark.

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