--%>
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 : Cash flows from operating activities A

    A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities

    		•
  • Q : Retail Invoice versus Tax Invoice

    Explain the difference between Retail Invoice vs. Tax Invoice?

    		•
  • Q : Merits of standard costing Write down

    Write down the merits of standard costing?

    		•
  • Q : Merits of Budgetary Control Write down

    Write down the merits of Budgetary Control?

    		•
  • Q : Analysis of cash flow statement What do

    What do you mean by the term Analysis of cash flow statement?

    		•
  • Q : Eliminating exposure of the currency

    Banks find it essential in order to accommodate their client’s requirements for buying or selling foreign exchange forward, in several instances for the hedging purposes.  How the bank can eliminate the exposure of the currency it has made for itself by acc

    		•
  • Q : Japanese investments in the Southeast

    Japanese MNCs, like Toshiba, Toyota, Matsushita, and so on, made extensive investments within the Southeast Asian countries such as Malaysia, Thailand, and Indonesia. State your opinion, what forces are making Japanese investments within the region?

    		•
  • Q : Digital Image Processing Homework Using

    I am just trying your services to get one very small project done for Digital Image Processing Homework Using Matlab.I need the code and the approach of the code.The Homework is :A. Import a color image.B. Convert color image to gray-level image.C. create

    		•
  • Q : Need for valuing goodwill Need for

    Need for valuing goodwill: If the mutual rights of the partners modifies then the party which makes a sacrifice should be compensated. This basis of compensation is goodwill therefore we require calculating goodwill. Mutual rights change beneath follo

    		•
  • Q : Bankruptcy A legal process that allows

    A legal process that allows a debtor, either a person or a business, to redundant some or all of the debt. The normal process involves selling asset and using the proceeds to pay off creditors in an order and/or in an amount determined by a judge. Some types of bankru

    		•