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Budgets and Budgetary Control

Presentations | English

A budget is an accounting plan. It is a formalised plan of action which is then expressed in monetary terms. It could be seen as a statement of expected income and expenses under certain anticipated operating conditions. It is a quantified plan for future activities and it can also be seen as a quantitative blue print for action. For the efficiency of carrying put different activities set in an organization, proper planning is to be done and budgeting is one key feature to Budgetary Control is a method of managing costs through preparation of budgets. Budgeting is thus only a part of the budgetary control to get it done. The main features of budgetary control include establishment of budgets, revision of these budgets, comparison of actual performances and taking suitable remedies. 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.

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Lumens

12.50

Lumens

PPTX (50 Slides)

Budgets and Budgetary Control

Presentations | English