In a bottom-up approach, managers should have a high level of controllability and a high level of involvement in budget setting.
<h3>What is a bottom-up budget approach?</h3>
- Bottom-up budgeting is a method of creating budgets that begins at the departmental level and works its way up.
- Each department within the organization must create a list of the supplies it requires, the projects it intends to complete throughout the upcoming fiscal year, and cost projections.
<h3>What is top-down and bottom-up budgeting?</h3>
- Departments must create budgets in top-down planning while adhering to the limitations imposed by senior leadership.
- Departments produce their own budget estimates and submit them to top leadership in a bottom-up budget.
- The two strategies are the two types of budgeting that are most frequently used.
<h3>What is bottom-up approach in accounting?</h3>
- Bottom-up forecasting is a technique for predicting an organization's future performance by beginning with basic company information and moving "up" to revenue.
- This strategy begins with thorough customer or product data before expanding to revenue.
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Answer:
21.26%
Explanation:
Calculation for the Rate of return that the
investor receive on the XYZ Fund last year
Using this formula
Rate of return =Current value - original value +Income distributions+ Capital gain distributions) / original value) x 100
Where,
Current value =$19.47
Original value =$17.50
Income distributions=$0.75
Capital gain distributions=$1.00
Let plug in the formula
Rate of return($19.47 - $17.50 + $0.75 + $1.00)/$17.50
Rate of return =($1.97+0.75+$1.00)/$17.50
Rate of return=$3.72/$17.50
Rate of return =0.2126*100
Rate of return =21.26%
Therefore the rate of return that did investor receive on the XYZ Fund last year will be 21.26%
Answer: The free enterprise economy seeks to maintain economic freedom. As mentioned earlier, the goal is for businesses to be able to make their own decisions with little government interference. Efficiency - The goal of efficiency is to make the best use of the resources that are available.
Answer:
TRUE
Explanation:
Training is the hidden cost associated with ERP implementations that is considered the most under-estimated because at the initial stage of Enterprise resource planning software purchase, only the cost of purchase and installation is considered. However the software cannot be used without training the users on how to use the software.
Such training costs are sometimes as significant as 25% or more of the cost of the software and these costs are not included in the list price of the purchase of the ERP. Furthermore even when the training costs are estimated, they are often under-estimated as the number of users may increase with time as the organisation grows.
