Budgets and Budgetary Control (Functional, Master, Fixed/Flexible Budgets, Budgetary Control, ZBB, Programme & Performance Budgeting)
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By Function — Categories / Test Question?
Categories: Sales, Production, Production-Cost, Cash, CAPEX, Master; Test Question: What activity does it cover?
By Behaviour to Volume — Categories / Test Question?
Categories: Fixed Budget, Flexible Budget; Test Question: Does it adjust to actual activity level?
By Data Source — Categories / Test Question?
Categories: Basic Budget, Current Budget; Test Question: Long-period standard or current conditions?
By Time Horizon — Categories / Test Question?
Categories: Long-Term (> 1 year), Short-Term (≤ 1 year); Test Question: Strategic or operational?
By Methodology — Categories / Test Question?
Categories: Traditional (incremental), Zero-Base, Programme, Performance; Test Question: How are the numbers built up?
What is Sales Budget?
is the estimate of total sales during the budget period (generally 1 year), expressed in both money terms (₹) AND quantity (units).
Internal Factors (controllable by the firm)?
Present production capacity, expansion plans, development of new products, pricing policy, sales-force strength, discount/credit policy.
External Factors (uncontrollable)?
Competition in the market, growth of the economy, consumer preferences and tastes, government policies (excise, GST, import duty), exchange rates, seasonality.
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