--%>
Assignment Help - homework help

Define Budgetary Control

Give a brief introduction of the term ‘Budgetary Control’ also writes down its characteristics?

E

Expert

Verified

Budgetary Control is a systematic control method where through budgets are made relating the responsibilities of budget owners. It is a constantly comparison of real results with budgeted results, to make sure that the objectives of the company’s strategy are accomplished; or to offer a basis for alter of those objectives. In easy words, it is the study of the strategy s that the organization has made; what the result was when those plans were applied practically. After practical execution of the budget if any difference is seen in the real result to the budget result then the purposes for the differences are found out and curative actions are taken to correct differences.

The characteristics of budgetary control are illustrated below:

-It deals with the founding of the budgets.
-A control method where real results are came from the organization’s operations and contrasted with the budget made.
-Any differentiations or distinctions are measured and made the responsibility of key individual who can either take actions for preserve the favorable differentiations or amend the budgets.

   Related Questions in Financial Accounting

  • Q : Firms attaining the U.S. firms

    Presently, several foreign firms from both the developed and developing countries attained high-tech U.S. firms. What would have motivated these firms in order to attain the U.S. firms?

    		•
  • Q : Case study of harvesting a tree

    Recently, a friend accused her neighbor of harvesting a tree (sapling of balsam fir, Abies balsamea) from her land without permission. Her neighbor claims that he bought it from a Christmas tree plantation (growing in a clearing down the road).  Your friend says

    		•
  • Q : Cause why relationships tend to come

    Identify and briefly explain the patterns in terms of how relationships tend to come apart (not together) or deteriorate. Use a real or hypothetical illustration to describe each of such phases.

    		•
  • Q : Define Revenue Revenue : The amount

    Revenue: The amount (sum) of money which a company really receives throughout a specific period, comprising discounts and deductions for the returned merchandise. This is the "top line" or "annual income" figure from which costs are subtracted to find

    		•
  • Q : Calculation Of IRR Calculation Of IRR :

    Calculation Of IRR: IRR is the rate at which your discounted cash inflow becomes equal to your discounted cash outflow. In other words NPV=0. To determine this following steps are followed:- 1. Determine cash inflo

    		•
  • Q : What is Balance of payments Define the

    Define the term Balance of payments.

    		•
  • Q : Closed-end country funds Write some of

    Write some of the advantages and disadvantages of closed-end country funds (CECFs) with respect to the American Depository Receipts (ADRs) as means of the international diversification.

    		•
  • Q : Calculate the bad debt expense for the

    The Webster Company uses the aging method to estimate the allowance for doubtful accounts. The following schedule of accounts receivable was prepared as at December 31, 20x6: Age Balance %

    		•
  • Q : Cost accountant With Black

    Black Manufacturing Company Black Manufacturing produced a single product called the Great Beast. During the past three weeks, Lee High, the new cost accountant, had observed that production efficiency and input pr

    		•
  • Q : Analyse the ramifications for

    HOMEWORK ASSIGNMENT FOR ADMINISTRATIVE LAW"The problem in today's complex legal environment is that the law is not able to be divided conveniently into segments. Any apparently discrete sect

    		•