LIVE MANAGEMENT EDUCATION

 Budget is the financial documents that forecasts coming income and expenditure of a fix financial year for optimum utilisation of finance and achieve objective. There are many techniques use in the process of making Budget. Budgetary control is one of the most important techniques that is used to make Budget more effective and efficient. The process in which Budget are compared with the actual performance of organization for finding out variance and control variance this process is called Budgetary control. According to I.C.M,A, Budgetary control is the process of the establishment of budget, relating the responsibilities of executives to the requirements of a policy, and the continuous comparison of actual with budgeted results either to secure by individual action the objectives of that policy this process is called Budgetary control. In other words we can say that Budgetary control is the system of controlling cost which includes preparation of budget coordinating the departmen...

 A Budget is a financial documents that forecasts coming income and expenditure of organization for a fox period for optimum utilisation of resource and achieve predefined goal. There are many types of Budget. Some important types of Budget is as below- 1.Master Budget- It is the first type of Budget.The budget that consists all small types of Budget of Organization this type of budget is called Master Budget.It is presented in monthly, quarterly form. It consists Sales Budget, Production Budget, Selling and administrative expense budget etc. In other words we can say that Master Budget is financial documents that forecast sales, production, purchase investments and expenses of organization. It is used by top class management to make long term policy, programme, strategy on the basis of current year forecasting. 2.Cah Budget- It is the second type of Budget, It is prepared to forecast cash inflow and outflow of organization. It shows the cash position of organization in coming fina...

 Cost volume profot analysis is a technique of cost accounting that is used to know the impact of changing level of cost and volume on the profit. It shows the relationship among cost, volume, and profit of the organization. There are many factors of Cost Vollume Prifit analysis. These factors are  1.Cost of volume of product. 2.Volume of product which are peoduced  and sold. 3.Profit earned by organization, We know that there are many factors of production. These factors are corelated to one another, When the cost of one factoe changes the cost of production of other factor also changes.With the help of Cost Volume Profit analysis we study the effect of change in one factor on the other factor. It is a popular technique that is used by large scale company, Multinational company for profit planning.It also shows the effect on future profit with change in fixed cost,variable cost.It is also very useful in decision making, Objectives- 1.To forcast accurate profit of organiz...

 Costing is an important function of organization. It is the process of classifying, recording and allocating resource to determine the actual expenditre to produce any product or service. There are three elements of Cost. These elements are Material, Labour, expenses. There are many methods of Cost. These methods are Job Costing, Batch Costing, Contract Costing, Operating Costing, Process Costing, Multiple Costing, Uniform Costing and Unit Costing. 1.Job Costing- It is the first type of Costing.There are many jobs involve in production process of any product or service. The process in which we ascertain for each job then calculate total expenditure this process is called Job Costing. In other words we can say that the process of identifying the total expenditure for producing any product or service according to jobs that are involved in production process this process is called Job Costing. Features of Job Costing- 1.Each job is accumulated separately on cost basis. 2.Each job is ...