Earlier article describe what is capital, operating, summary and master budget.
In brief, the master budget is the summary budget which consolidates the information from all subsidiary budgets. It usually comprises the budgeted Income statement, budgeted balance sheet and cash budget. The master budget is a very significant planning tool which is reviewed by the directors to see if it represents an acceptable plan for the organization for the forthcoming period.
The main steps to prepare the master budget:
- Explain what is Capital Budget,Operating Budget,Summary Budget & Master Budget
- Predetermined Overheads Absorption Rates & Illustration
- What Is Flexible Budget? What is the difference between flexible and fixed budget? In what situations, flexible budgeting is useful or being used? What are the steps involved when preparing flexible budget?
- Details Of Ninth Schedule Companies Act 1965(Act No 125)
- List Of Topics Under The Heading:Budget And Budgetary Control