Budgetary control is a system whereby the budgets are used as a means of planning and controlling costs. Budgeting lays down as to what is to be attained and how it is to be attained while control ensures that the objectives are realised and actual results do not deviate from the planned course more than necessary. CIMA has defined budgetary [...]
Everything you need to know about objectives of budgetary control. The management of an organisation is primarily concerned with the realization of organisational objectives. In its efforts to achieve these objectives, it has to manage the enterprise efficiently by optimising the use of resources and eliminating or minimising the wastes, if any. Budgetary control is one of the important techniques [...]
Everything you need to know about advantages of budgetary control. Budgetary control offers many advantages. It may be conceived as one of the supreme examples of rationality in management. It is a useful management tool for comparing the current items with pre-planned items with a view to attain equilibrium between ends and means, output and effort. Budgetary control has assumed [...]