Business Analytics Tutors for Business Training in Howrah

Data science is a very innovative field

if the distribution of data is skewed to the left, the meanis less than the median, which is often less than the mode. If the distribution ofdata is skewed to the right, the mode is often less than the median, which is less than the mean.

 if the distribution is normal Mean = Mode = Median, 

If the distribution is left skewed, Mean < Median < Mode

If the distribution is right skewed,  Mode < Median < Mean

It should be for 1) Growth and development 2) risk and uncertainty in the market 3) for working capital n smooth working of business

An operating budget is a combination of known expenses, expected future costs, and forecasted income over the course of a year. Operating budgetsare completed in advance of the accounting period, which is why they require estimated expenses and revenues.

PV is simply the payment size (A) divided by the interest rate (r).

BALANCE SHEET,

PROFIT &LOSS A/C ,

CASH FLOW STATEMENT

It is one kind of fund that is created to set aside revenue to meet any future liabilities

Budgeting means to set a standard for a particular thing at the beginning of the year than Actual and Standards are compared at the end of the year inorer to know Deviations if any. Objectives:- 1)It helps in setting standard(I.e. it acts as a planning tool) 2)Cost Reduction and Cost Control 3)Quantitative Measurement etc

1) Market study 2) Customer projections 3) Organization's growth rate from previous years

 There are lots of disadvantages of budgetary control, if we do not use it properly whose list has given below.  

1. Based of Historical Accounting Data 

All budgets are made on the basis of historical data. If there is any mistake or window dressing inthe accounting data, then it is the chance that budget will not become correct. Incorrect budgets will direct for incorrect budgetary control.  

2. Pressure on a Certain Person 

We all know, in the budget, targets are fixed. If targets are more than the capacity and resources of concern, it may give the pressure on a certain responsible employee. For fulfilling the targets, employee may use wrong ways. For example, you have to fulfil the insurance sales target in next one month. This is your sales budget but it has not made fully systematic. Wrong estimations have been taken on this, this budget was made. So, way of budgetary control through this will decrease the efficiency of employees instead of increasing the efficiency.  

3. Misuse the Technique 

Sometime, budgets are made just for window dressing. You know what is your actual performance. As per real budgeted data, your performance will very adverse. But, you have changed the figure of budget and new your performance is looking good. All these things will be wrong for achieving great targets.  

4. Time Consuming 

Time consuming in making budgets should be compare with the value of time of employees. Life is only today. Do best today will be helpful for making better tomorrow. Same time, we can use for motivating our employees. This may also increase the productivity of our employees. More time consumption may be big disadvantage of budgetary control.