Define Budget Manual
Give a short introduction of the term ‘Budget Manual’?
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Budget Manual is a document which standardized techniques and processes necessitated in relative to budgetary control. It as well sets out the liability of persons engaged in the procedure. A budget manual must consist of the following particulars which are illustrated below: - Responsibilities and Duties of the diverse executives - Organization plan - Duties of budget committee and budget office - Budget centre codes and Accounts codes - Budget figures
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A journal entry that moves the effects of revenues or expenses to the owners' equity account. Only temporary account that is on the income statement is closed. The purpose of a closing entry is twofold. First, it moves revenue to retained earnings on the balance sheet
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Write down the demerits of implementing Uniform Costing?
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