Question

Differentiate between a top-down and bottom-up approach to developing a budget. Identify and explain the items...

  • Differentiate between a top-down and bottom-up approach to developing a budget.
  • Identify and explain the items that need to be considered when developing a cost-benefit analysis
  • Determine when a budget becomes a tool in the controlling function of management.
  • Explain the importance of a cost justification in relation to budget requests.

Homework Answers

Answer #1

Answer 1: The difference between the top down approach and the bottom up approach includes as the top down approach directly includes the development of the high level budget where the senior management authorities are indulge. The top down approach includes the determination of the solution for the big problems in to the smaller section to make it more understanding. Whereas in the case of the bottom up approach, the particular departmental individuals and managers are involved in creating the budget and then it is forwarded to the upper authority for the approval.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Auditors need to use a top-down approach to identify controls to test. This approach starts at...
Auditors need to use a top-down approach to identify controls to test. This approach starts at the top of an organization (financial statements and entity-level controls) and helps to link the financial statements to significant accounts, relevant assertions, and major classes of transactions. Entity-level controls are included in the control environment or via monitoring components. Examples that have a pervasive effect on internal control include tone at the top, assignment of authority and responsibility, and corporate codes of conduct. Haun...
Explain the complete HAZOP procedure as followed in the industry. See summary below. Explain all the...
Explain the complete HAZOP procedure as followed in the industry. See summary below. Explain all the main parts of HAZOP study in details given in the Pdf file including: 1. Overview (including definitions and usage) 2. Hazop methodology (including phases like definition, preparation, examination, documentation and follow-up). Give examples also 3. Risk review 4. Risk communication Guidance: Study the procedure carefully and then write the answers in your own words. Hazard & Operability Analysis (HAZOP) 1   Overview: Hazard and Operability...
1. The first step in any top down stock valuation is:A. economic analysis.B. an accurate stock...
1. The first step in any top down stock valuation is:A. economic analysis.B. an accurate stock market prediction.C. financial analysis.D. industry analysis. 2. Which of the following is not a goal of the federal government economic policy as established by the Employment Act of 1946?A. Low inflationB. High levels of employmentC. Balanced federal budgetsD. Economic growth 3. The most widely used tool of the Federal Reserve is: A. open-market operations (buying and selling securities for its own portfolio).B. changing the...
The Relationship Between State Agencies and Nonprofit Organizations Introduction The relationship between government agencies and nonprofit...
The Relationship Between State Agencies and Nonprofit Organizations Introduction The relationship between government agencies and nonprofit organizations is the focus of increasing attention within the public administration community. Practitioners recognize that the organization of public services relies to a substantial degree upon what we have come to call third-party government (Salamon, 1981). Nongovernmental actors not only deliver government-funded services but also actively participate throughout the policy process. Often the third-party is a nonprofit organization. In the last decade or so,...
Brian Durkee/ Director of Operations, Numi Organic Tea: Well Numi; Numi’s is a triple bottom line...
Brian Durkee/ Director of Operations, Numi Organic Tea: Well Numi; Numi’s is a triple bottom line company which means our focuses are on people, planet and profit. Hi, I’m Brian Durkee. I’m the director of operations for Numi Organic Tea and a big part of my role at Numi is to really manage that, and uh; it’s beyond just taking care of your employees. Numi has fifty employees in the U.S. but the peoples who dedicate the majority of their...
The project has been performing as planned, and the team members have been exhibiting increasing levels...
The project has been performing as planned, and the team members have been exhibiting increasing levels of trust between each other. The sponsor and the buyer have been satisfied with the delivery of business value, and user acceptance testing results are positive. A technical expert consulting with the team has expressed concerns that the team is not in agreement on the best way to deliver to the next review. If the project manager wants to support the team in reaching...
Analysis: This section should include the issue register as a bare minimum, but may include also...
Analysis: This section should include the issue register as a bare minimum, but may include also why-why diagrams, a Pareto chart, a waste table and/or value-added analysis table. Flow analysis or simulation of this case study might be possible but might require making a lot of assumptions given the provided data. The first part of the project: Introduction    Walmart has continued to retain the top position on the Fortune 500 list for a consecutive fifth year. The brand has...
The Business Case for Agility “The battle is not always to the strongest, nor the race...
The Business Case for Agility “The battle is not always to the strongest, nor the race to the swiftest, but that’s the way to bet ’em!”  —C. Morgan Cofer In This Chapter This chapter discusses the business case for Agility, presenting six benefits for teams and the enterprise. It also describes a financial model that shows why incremental development works. Takeaways Agility is not just about the team. There are product-management, project-management, and technical issues beyond the team’s control. Lean-Agile provides...
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation....
Using the model proposed by Lafley and Charan, analyze how Apigee was able to drive innovation. case:    W17400 APIGEE: PEOPLE MANAGEMENT PRACTICES AND THE CHALLENGE OF GROWTH Ranjeet Nambudiri, S. Ramnarayan, and Catherine Xavier wrote this case solely to provide material for class discussion. The authors do not intend to illustrate either effective or ineffective handling of a managerial situation. The authors may have disguised certain names and other identifying information to protect confidentiality. This publication may not be...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT