A formalised plan of action that is articulated in financial terms is called a budget. It could be interpreted as a statement of anticipated revenue and expenses under particular operating assumptions. It is a quantitative blueprint for action and a quantified roadmap for future activity. Budgetary control is a technique for cost management that involves creating budgets. The creation of budgets, their modification, a comparison of actual performances, and the application of appropriate correctives are the major components of budgetary control. Budgetary control is a technique used to assess the results of the budgeted figures, as opposed to the budget, which is the tool used for estimating revenue and costs. View this PPT for more information.

Sahreen Younis Ahanger

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