Financial dicision making
Compare and contrast the behavioral issues that arise with top-down and bottom up budgeting.
Critically appraise the impacts on divisional managers and on the organisation as a whole where head office impose fixed costs and transfer prices upon the divisional budgets.
Hope and Fraser (Beyond Budgeting 2003) suggest that traditional budgeting is outdated and insufficient to help an organisation achieve their planning and control objectives in contemporary corporate environment. A number of alternatives to traditional budgeting have been developed and are being employed.
You are required to critically appraise the claims of Hope and Fraser and to evaluate the alternatives to traditional budgeting as replacements for traditional budgeting methods.
DiscussTWO concepts of Kaizen costing.
Discuss THREE conditions that must exist for TQM to be successfully implemented.