Task 3.- 3.1 analyse budgets and make appropriate decisions Budgeting has been said to be...
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Accounting
Task 3.- 3.1 analyse budgets and make appropriate decisions Budgeting has been said to be of little use because of some of its associated problems. (3.1) Explain reasons why some experts are saying traditional budgeting is not as useful as before giving suitable examples where you can. a. explain 'beyond budgeting' b. Give 4 or more reasons why beyond budgeting says traditional budgeting is no longer useful. c. Explain four of the advantages of using the beyond budgeting approach. 3.2 explain the calculation of unit costs and make pricing decisions using relevant information James Smith has been reading about pricing options for his business. He has read about target costing, which he thinks is a good way to compete in a highly competitive business environment. James give you the following information: Selling Price: Target profit margin: Target cost: 100/unit 30% ? From the information given to you by James, calculate: a. The target profit margin for James' product. b. Calculate the target cost James should achieve if he is to have the target profit
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