3.CMA Part 1 - Section B-Budget Concepts 2 скачать в хорошем качестве

3.CMA Part 1 - Section B-Budget Concepts 2

CMA Part 1 - Section C: Performance Management: Budget Concepts In this video, we dive deep into the critical role of budgeting in organizational planning and performance evaluation as part of CMA Part 1 - Section C: Performance Management. Learn how effective budgeting can drive success and achieve strategic goals. Key Learning Points: Role of Budgeting: Understand how budgeting influences overall planning and performance evaluation within an organization. Economic and Industry Interrelationships: Explore the connections between economic conditions, industry situations, and organizational plans and budgets. Short-term Objectives: Identify the role of budgeting in formulating short-term objectives and in planning and controlling operations to meet those objectives. Performance Measurement: Learn how budgets are used to measure performance against established goals. Successful Budgeting Processes: Discover the characteristics that define successful budgeting processes and how they can enhance organizational effectiveness. Communication and Coordination: Understand how the budgeting process facilitates communication among organizational units and enhances coordination of activities. Controllable Costs: Describe the concept of controllable costs in relation to budgeting and performance evaluation. Resource Allocation: Explain how the efficient allocation of organizational resources is planned during the budgeting process. Time Frames: Identify the appropriate time frame for various types of budgets. Participation in Budgeting: Learn who should participate in the budgeting process for optimum success. Top Management’s Role: Describe the role of top management in successful budgeting. Cost Standards: Demonstrate an understanding of the use of cost standards in budgeting. Types of Standards: Differentiate between ideal (theoretical) standards and currently attainable (practical) standards, as well as authoritative and participative standards. Developing Standards: Identify steps for developing standards for direct material and direct labor. Techniques for Developing Standards: Understand techniques such as activity analysis and the use of historical data. Policy for Budget Revisions: Discuss the importance of a policy that allows budget revisions to accommodate significant changes in budget assumptions. Monitoring and Controlling Expenditures: Explain the role of budgets in monitoring and controlling expenditures to meet strategic objectives. Budgetary Slack: Define budgetary slack and discuss its impact on goal congruence. This video is essential for mastering budget concepts and preparing for the CMA Part 1 exam. Subscribe for more expert tutorials and click the notification bell to stay updated with our latest content!