Critically evaluate budget monitoring as a method of Performance measurement and suggest alternative methods of performance evaluation.
Critically evaluate budget monitoring as a method of Performance measurement and suggest alternative methods of performance evaluation.
1) One of the major tasks of the Management accountant is to set a budget. Explain some of the methods used by management accountants to set the budget and the interrelationship between the different budgets. (30 marks) 2) What is meant by a flexible budget? Explain its use in performance evaluation and provide examples. (30 marks) 3) Critically evaluate budget monitoring as a method of Performance measurement and suggest alternative methods of performance evaluation. (40 marks)
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