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    Budgets and Budgetary Control

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    sairajdash189
    Budgets and budgetary control involve establishing budgets to forecast and plan operations, continuously comparing actual performance to budgets, revising budgets as needed, and holding people responsible for failing to meet targets. The objectives are to aid coordination, motivate employees, and facilitate control. Budgetary control has four main components: physical budgets, cost budgets, profit budgets, and financial budgets.

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    Budgets and Budgetary Control

    Uploaded by

    sairajdash189
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    Budgets and budgetary control involve establishing budgets to forecast and plan operations, continuously comparing actual performance to budgets, revising budgets as needed, and holding people responsible for failing to meet targets. The objectives are to aid coordination, motivate employees, and facilitate control. Budgetary control has four main components: physical budgets, cost budgets, profit budgets, and financial budgets.

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    Budgets and budgetary control involve establishing budgets to forecast and plan operations, continuously comparing actual performance to budgets, revising budgets as needed, and holding people responsible for failing to meet targets. The objectives are to aid coordination, motivate employees, and facilitate control. Budgetary control has four main components: physical budgets, cost budgets, profit budgets, and financial budgets.

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    3 views2 pages

    Budgets and Budgetary Control

    Uploaded by

    sairajdash189
    Budgets and budgetary control involve establishing budgets to forecast and plan operations, continuously comparing actual performance to budgets, revising budgets as needed, and holding people responsible for failing to meet targets. The objectives are to aid coordination, motivate employees, and facilitate control. Budgetary control has four main components: physical budgets, cost budgets, profit budgets, and financial budgets.

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    Budgets and Budgetary Control

    Budgets
    Meaning : -

    Different types of budget


    Budgetary Control
    It is the system of management control and accounting in which all the operations are
    forecasted and planned in advance to the extent possible and the actual results compared
    with the forecasted and planned ones.
    Budgetary control involves
    1. Establishment of budgets
    2. Continuous comparison of actual with budgets for achievement of targets.
    3. Revision of budgets after considering the changes in the circumstances.
    4. Placing the responsibility for failure to achieve the budget targets.
    Objectives of Budgetary Control

    Components of Budgetary control


    1. Physical Budgets
    2. Cost Budgets
    3. Profit Budgets
    4. Financial Budgets

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