Features of performance-based budget Performance based budgets are prepared for planning, communicating, coordinating, and control and performance evaluation functions. (a) Planning Planning involves in deciding company’s broad aims and objectives. A budget is nothing but deciding the financial objectives as it incorporates expected Performance and present managerial targets. These targets guide the business operations and… Continue reading Features of performance-based budget.
Importance of performance-based budgets Performance-based budgeting helps in bringing the transparency in budget preparation and make better financial decisions for the allocation of resources. It reviews the operational efficiency of the projects. It allows entities to strengthen the budgetary process in light of competing claims for resources by using objective criteria to: determine resource allocation;… Continue reading Importance of performance-based budgets.
Advantages of performance-based budgets. Clear Purpose: It provides a clear purpose of budgeting and understanding of the Performance of the persons involved. It becomes easier to access the deviations and the performances and correct them. Improvement in Performance: there will be a continuous check on the deviations and performances to remove the errors and correct the deviations,… Continue reading Advantages of performance-based budgets.
Prohibition of quantitative restrictions: it established the concept that any commodity produced and sold lawfully in a Member State in compliance with its equal and customary rules and manufacturing processes permitted on any Member country’s market. This is the fundamental rationale for the controversy about defining universal acceptance in the exclusion of harmonization. As a… Continue reading Prohibition of quantitative restrictions.
Communications Essay Question 1 It is true that the social identities of news media professional necessarily lend themselves to bias reporting. Media has a different place to form an image about a significant political and social issue. Therefore, media coverage has a significant effect on the public when it characterizes the whole event and provides… Continue reading Communications Essay summary.
Harmonization of national laws: the implementation of harmonization laws enabled the removal of impediments (for example, by declaring federal provisions unreasonable) and the establishment of universal rules aimed at ensuring the free movement of goods and materials, as well as compliance with other EU Treaty goals, such as environmental and consumer welfare, or competition. Get… Continue reading Harmonization of national laws.
Stance on merger management This strategy aims to ensure that the Community achieves establishing a mechanism that does not distort competitiveness in the internal sector. It also provides that Member Countries and the Community perform their operations in compliance with the concept of an open market environment and free competition. These ideals are critical for… Continue reading Stance on merger management.
Better rivals in foreign markets: Rivalry within the Member states help strengthen European businesses beyond the EU and enables them to compete on an equal footing with global competitors. The expected market concept applies to the European Union as a single jurisdiction devoid of internal boundaries or other legislative impediments to the free flow of… Continue reading Better rivals in foreign markets.
Internal market completion: The establishment of the common market necessitated removing all existing barriers to the free exchange of commodities. The Commission White Paper (1985) outlined the physical and technological impediments that needed to be eliminated and the Community’s response. The majority of these initiatives have been implemented. However, the free trade area also needs… Continue reading Internal market completion.