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  • Costing

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    Nikhil Vithaldas Kadam
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    Budgetary control involves establishing budgets and comparing actual results to budgets. It requires clear lines of authority, quantifiable organizational goals, participation from all management levels in setting budgets, flexibility, proper communication, educating on the budget process, creating cost awareness, involvement from top management, and a sound accounting system to generate accurate, reliable, and prompt information.

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    Costing Ppt

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    Budgetary control involves establishing budgets and comparing actual results to budgets. It requires clear lines of authority, quantifiable organizational goals, participation from all management levels in setting budgets, flexibility, proper communication, educating on the budget process, creating cost awareness, involvement from top management, and a sound accounting system to generate accurate, reliable, and prompt information.

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    Attribution Non-Commercial (BY-NC)
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    37 views5 pages

    Costing

    Uploaded by

    Nikhil Vithaldas Kadam
    Budgetary control involves establishing budgets and comparing actual results to budgets. It requires clear lines of authority, quantifiable organizational goals, participation from all management levels in setting budgets, flexibility, proper communication, educating on the budget process, creating cost awareness, involvement from top management, and a sound accounting system to generate accurate, reliable, and prompt information.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 5

    PREPARED BY :

    JANHAVI KHATAVKAR MS1112019

    DISCUSS THE VARIOUS PRELIMINARIES REQUIRED FOR ADOPTION OF SYSTEM OF BUDGETARY CONTROL

    MEANING OF BUDGETORY CONTROL


    Budgetary control is the establishment of budget relating responsibility of executives to the requirements of policy & the continues comparison of actual with the budgeted result.

    REQUIREMENTS OF A SOUND BUDGETING SYSTEM


    Clear lines of authority The organisational goal should be quantified & clearly stated. All levels of management should participate in setting budgets. Budget control system should provide for a degree of flexibility

    CONTD..
    Proper communication system should be established. Educating the budget process and creation of cost awareness atmosphere. The top management in budget process is essential for successful implementation. A sound system for generating accurate & reliable & prompt accounting information.

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