Techniques of cost control are essential for businesses to maintain financial stability and achieve long-term success. By implementing techniques such as budgeting, optimizing procurement processes, efficient energy management, standard costing, effective labour management, and leveraging technology, organizations can effectively manage costs and improve their overall financial performance.Â
Table of Contents:- Flexible Budget Meaning A flexible budget consists of a series of budgets for different levels of activity. It, therefore, varies with the level of activity attained. A flexible budget is prepared after taking into consideration unforeseen changes in the conditions of the business. A flexible budget is defined as a budget that
Internal accruals form part of the means of finance in respect of expansion projects. An existing company that goes for an expansion (or diversification or modernization) project may opt to finance a portion of the capital investment out of internal cash accruals.
There are many factors affecting learning which may either enhance or hinder one’s ability to acquire knowledge and skills. A thorough understanding of factors affecting learning is important for educators and learners alike, as it allows for the development of effective strategies to optimize the learning experience.
A voluntary Retirement Scheme is defined as a method that is used to reduce the present workforce of the company. In this method, the employee is persuaded to voluntarily retire from the organisation.
360 degree performance appraisal is an orderly aggregation and feedback of performance data about an employee or a group of employees obtained from many stakeholders in their performance.