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Budget and Budgetary Control

Presentations | English

The difference between budget and budgetary control is that while budget is the tool used as an estimation of revenue and costs, budgetary control is the process used to evaluate the budgeted results. A budget committee is a committee to formulate a general programmed for preparing budget and to exercise overall control. Budgetary control uses the budgets to monitor actual results with budgeted figures. Responsibility for budgets is given to managers and supervisors – the budget holders. It is designed to assist management in carrying out its functions by allocating responsibility and authority, to aid in making plans and estimates for the future and to assist in the analysis of variation between the actual and estimates in order to develop the bases for measurement with the standard for the purpose of measuring efficiency of operations. Thus budgetary control is a system of planning and controlling cost through continuous comparison of actual with budgeted results.

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Lumens

11.25

Lumens

PPTX (45 Slides)

Budget and Budgetary Control

Presentations | English