GK
PUBLIC ADMINISTRATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Policy statement
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Financial planning
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Management method
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Controlling and reporting
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Detailed explanation-1: -A control technique whereby actual results are compared with budgets. Any differences (variances) are made the responsibility of key individuals who can either exercise control action or revise the original budgets.
Detailed explanation-2: -Budget controlling compares costs, revenues and actual performance with the budget so that, if necessary, it can be reviewed and corrective measures can be applied.
Detailed explanation-3: -Financial Planning In addition, the budget report will reveal where budget cuts can be made to either buy an asset or put funding aside to pay off liabilities, for example. The annual financial report and the budget report show accurate numbers of the company’s immediate financial situation and overall worth.
Detailed explanation-4: -Establish City goals and major performance objectives. Approve guidelines for preparing the annual operating budget. Establish through adoption of an annual budget what services and the level of services to be provided and how they will be financed. More items