Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. kidderminster ltd is an electronic waste recycling

Kidderminster Ltd is an electronic waste recycling company established by Mustafa, in 2015. Kidderminster Ltd...

70.2K

Verified Solution

Question

Accounting

image

Kidderminster Ltd is an electronic waste recycling company established by Mustafa, in 2015. Kidderminster Ltd is the first company offering green recycling of electronic waste and safe data destruction services in Birmingham area. Kidderminster Ltd has grown rapidly in number of its employees and income. Due to the rapid growth and uncertain business environment, Mustafa was advised to introduce budgeting into his company to have a better planning and control in the business and particularly to have better cash forecast. Required: As a management accountant, Mustafa has asked you to briefly explain to him: (a) What is meant by 'control' and how it differs from 'planning'? [5 marks] (b) What is a budget and budgetary control? [5 marks] (c) Why a cash budget is important and how it is prepared? [8 marks] (d) Besides planning and control, what other benefits to be gained from budgeting? [7 marks]

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students