B Com Exam > B Com Videos > Cost Accounting > Performance Budget - Budgetary Control, Cost Accounting
Performance Budget - Budgetary Control, Cost Accounting Video Lecture | Cost Accounting - B Com
|
106 videos|173 docs|18 tests
|
FAQs on Performance Budget - Budgetary Control, Cost Accounting Video Lecture - Cost Accounting - B Com
| 1. What is a performance budget? |  |
Ans. A performance budget is a budgeting technique that focuses on the outcomes and results of the organization's activities. It sets specific targets and measures performance based on achieving those targets. This type of budget emphasizes the efficient allocation of resources and the evaluation of the organization's performance in achieving its objectives.
| 2. How does budgetary control relate to performance budgeting? | |
Ans. Budgetary control is a process that involves comparing actual performance with planned performance, identifying variances, and taking corrective actions. In the context of performance budgeting, budgetary control plays a crucial role in monitoring the organization's performance against the targets set in the performance budget. It ensures that the organization stays on track and takes necessary actions to achieve the desired outcomes.
| 3. What is the significance of cost accounting in performance budgeting? | |
Ans. Cost accounting provides crucial information about the costs associated with different activities, products, or services of the organization. In performance budgeting, cost accounting helps in determining the costs of various performance measures and activities. It helps in identifying the cost drivers, analyzing cost behavior, and making informed decisions about resource allocation and performance improvement strategies.
| 4. How can performance budgeting help improve organizational efficiency? | |
Ans. Performance budgeting encourages organizations to set specific targets and measure their performance against those targets. This focus on outcomes and results helps in identifying areas of improvement and inefficiencies within the organization. By monitoring performance and taking corrective actions, performance budgeting facilitates the allocation of resources in a more efficient and effective manner, leading to improved organizational efficiency.
| 5. What are the key challenges in implementing performance budgeting? | |
Ans. Implementing performance budgeting can pose several challenges for organizations. These challenges include resistance to change from employees, lack of accurate performance data, difficulty in setting realistic targets, and the need for effective performance measurement systems. Additionally, performance budgeting requires strong leadership and commitment from top management to drive the cultural and operational changes necessary for its successful implementation.
Related Exams
About this Video
|
4.89/5 Rating |
|
Nov 16, 2024 Last updated |
Video Description: Performance Budget - Budgetary Control, Cost Accounting for B Com 2024 is part of Cost Accounting preparation.
The notes and questions for Performance Budget - Budgetary Control, Cost Accounting have been prepared according to the B Com exam syllabus.
Information about Performance Budget - Budgetary Control, Cost Accounting covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Performance Budget - Budgetary Control, Cost Accounting.
Introduction of Performance Budget - Budgetary Control, Cost Accounting in English is available as part of our Cost Accounting for B Com & Performance Budget - Budgetary Control, Cost Accounting in
Hindi for Cost Accounting course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Performance Budget - Budgetary Control, Cost Accounting Video Lecture | Cost Accounting - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Cost Accounting.
Information about Performance Budget - Budgetary Control, Cost Accounting
Here you can find the meaning of Performance Budget - Budgetary Control, Cost Accounting defined & explained in the simplest way possible.
Besides explaining types of Performance Budget - Budgetary Control, Cost Accounting theory, EduRev gives you an ample number of questions to practice Performance Budget - Budgetary Control, Cost Accounting tests,
examples and also practice B Com tests.
|
106 videos|173 docs|18 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Viva Questions
,MCQs
,Extra Questions
,study material
,shortcuts and tricks
,Exam
,video lectures
,Objective type Questions
,Important questions
,Semester Notes
,Summary
,Cost Accounting Video Lecture | Cost Accounting - B Com
,Performance Budget - Budgetary Control
,Performance Budget - Budgetary Control
,Cost Accounting Video Lecture | Cost Accounting - B Com
,Sample Paper
,mock tests for examination
,Free
,Previous Year Questions with Solutions
,Performance Budget - Budgetary Control
,practice quizzes
,past year papers
,Cost Accounting Video Lecture | Cost Accounting - B Com
,ppt
;
Study Performance Budget - Budgetary Control, Cost Accounting on the App
Students of B Com can study Performance Budget - Budgetary Control, Cost Accounting alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Performance Budget - Budgetary Control, Cost Accounting,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Performance Budget - Budgetary Control, Cost Accounting is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup