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functional areas of financial managementthe scope of financial management is all pervasive and covers approximately all the functional areas of an
general functionsseveral functions of financial management currently range from planning of funds to distribution of earnings and also are extend
aim of finance functionthe fundamental aims of a modern finance function are acquiring enough funds when required at lower cost proper use of funds
classification of sources of financein the market there are several sources of finance with conflicting risk characteristics and with conflicting
definition of financial managementthe term financial management has been described by management experts in several ways reflecting the duties and
investment decision and cost of capitalin finance investment decision is disclose the allocation of funds in fixed assets or long term this decision
organisation for budgetary control or pre-requisites for the introduction of an effective budgetary control system1 budget centre it is a
zero base budgets this is a new technique which was first used by the us department of agriculture in 1961 texas instruments an mnc have used it in
performance budget it involves evaluation of the performance of the organization in the context of both overall and specific objectives of the
on the basis of flexibilitybull fixed budget this is designed to stay unchanged irrespective of the volume of output or turnover attained the
on the basis of functionsbullfunctional subsidiary budgets a subsidiary budget is a budget of income or expenditure appropriate to or the
on the basis of timebull long term budget as per the national association of accountants america a long term budget is a systematic and
classification of budgetsbudgets can be categorized on the basis of several bases there are three important bases for classifying budgets
important factors for successful budgetary control1 clearly defined organization structure2 top management support3 reporting of deviations4
steps in budgetary control1 quantification of plans in relation to sales production distribution and finance in terms of objectives and goals set by
limitations of budgetary control1 it involves predicting the future which is not certain2 market is continuously and dynamically evolving hence
advantages of budgetary control1 profits are maximizes2 it makes easy the controlling of activities3 effective co-ordination is made achievable4
features of a budgeta it is prepared for a specific periodb it is expressed in
definition of budgetary controlas per the icma budgetary control is the establishment of budgets relating the tasks of executives to the requirements
bridge financinga type of short-term financing used to cover an organization short-term want a loan that is expected to be repaid relatively
break-even pointthe measure of products or services organizations must sell for its revenue from sales to equal its cost of production for the same
brainstormingan idea production strategy that exclusively encourages any and all alternatives while withholding any appreciation of those
bond indenturean indenture builds the formal conditions of a lending relationship between a borrower and a lender it is a written record and it
blue skyit refers to laws that safeguard investors from being misled by investment people who misrepresent the significance value of investments to
bidthe price buyers provide to acquire securities or privacy from