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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<span>The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in this business-driven society.</span>
Answer:
Current market price is 474.30
Explanation:
The current price of the bond can be computed using the pv function in excel as stated thus:
=-pv(rate,nper,pmt,fv)
rate is semiannual yield to maturity which is 7.6%/2
nper is the 10 years of bond tenure multiplied by 2
pmt is the coupon payable which is zero
fv is the face value of the bond which is $1000
=-pv(7.6%/2,20,0,1000)=$ 474.30
Answer:
$270,000
Explanation:
Net capital spending = Increase in net fixed assets + Depreciation expenses
= [ Net fixed assets at year end - Net fixed assets at the beginning ] + Depreciation expenses
= [$5,200,000 - $4,600,000] + $330,000
= $600,000 - $330,000
= $270,000
Answer:
Patriots net income for the year = $245,000
Explanation:
Data provided in the question:
Revenue of Patriot Partners during the year = $245,000
Expenses of Patriot Partners during the year = $120,000
Declared dividends by Patriot Partners = $40,000
Now,
The Patriots net income for the year will be
= Revenue of Patriot Partners - Expenses of Patriot Partners
or
Patriots net income for the year = $245,000 - $120,000
or
Patriots net income for the year = $125,000
