Economics Students Get Insight into the Differences in Budgeted Versus Actual Rates
Budget is a major part of financial planning of all firms. Right from framing of budgets to its analysis, economics students need to be well versed with every aspect of it.
Need for budgets
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Why actual costs exceed budgets
As part of studies, students get questions regarding budgeted rates. Budgeted versus actual rates assignment help can assist them in such cases. There are several reasons for costs going above budgets.
Unexpected changes in prices of raw materials may lead to costs going beyond budget. This cannot be controlled by individual firms.
If the budgeting process was done on the basis of faulty estimates, the actuals are bound to differ. Proper care should be given to drafting budgets.
When new entrants enter market, there will be public sentiments in their favour. To counter this, firm may need to increase overhead costs on advertising.
New regulations coming into force may cause price of some goods or services go up.
When cost is within budget
This is surely a favourable indication for firms. But they need to take care to maintain the momentum.
Knowing these can be helpful before proceeding to get budgeted versus actual rates homework help.
Why students stagger
Budgeting and analysis do not have many takers in economics field. It is generally perceived as difficult to learn.
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