Advertisements
Advertisements
Question
How can the management of an organisation use the budgetary control system for planning and control?
Answer in Brief
Advertisements
Solution
- Budgetary control involves forecasting and planning activities ahead of time and comparing actual results to those projected.
- The Budgetary Control System helps organisations plan and control costs. The technique offers a structured approach to planning.
- A business strategy outlines specific actions to be taken over time. A budgetary control system establishes a plan for achieving a firm's objectives, coordinates actions across departments, and ensures optimal results for each function.
shaalaa.com
Budgeting
Is there an error in this question or solution?
APPEARS IN
RELATED QUESTIONS
The ______ budget contains an estimate of the total volume of production week wise, month wise and product-wise.
What is a Production Budget?
What is a Budget?
A wise guide to have an overall view of family income and expenses:
A budget is a statement that can be expressed:
A budget is tool which helps the management in planning and control of ______.
A budget relates to a ______ period.
Explain the term ‘budget’.
The process of preparing budgets is known as ______.
Choose the Odd-One-Out
Budgeting is
