Both standard costing and budgetary control have common objective of controlling costs or expenses. Hence, these systems are considered to be interrelated to each other. But they are
Budgetary control is used as a tool of management control and derives some benefits. Even though, there are some disadvantages or limitations also. They are listed below. Disadvantages
Essentials of effective budgetary control (or) Preliminaries for the adoption of budgetary control system are listed below. Essential elements of effective budgetary control 1. Support of Top Management
The very objective of budgetary control is the allocation of responsibility with budgeted figures and develops a basis for the measurement of performance to find the efficiency of
What is a Budget Manual? Budget manual is a small booklet that contains the details relating to budgeting organization and procedure. While implementing budgets, some forms are necessary.
What is a Budget Committee? Budget committee is one which prepares the budget and is fully responsible for the implementation of budgets. Moreover, the budget committee also exercises
Who is a Budget Officer? Budget Officer is a head of Budgetary Control Organization. He/she may be otherwise called as the Budget Director or Budget Controller. He/She receives
What is Budgetary control? Budgetary control is the process by which budgets are prepared for the future period and are compared with the actual performance for finding out
