--%>
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 : Case study of a local public utility

    The local public utilities commission has been charged with inspecting and reporting utility problems in the area. They have three electrical inspectors and two gas inspectors, each available for 40 hours , to analyze structures in their respective areas of expertise.

    		•
  • Q : Relationship-To Look for in each other

    What is Relationship and what are the traits that make any relationship happy and committed forever ?

    		•
  • Q : Closed-end country funds trading at

    Why closed-end country funds often trade at the premium or discount?

    		•
  • Q : Characteristics of Composite currency

    State the characteristics of the Composite currency bonds market instrument.

    		•
  • Q : Foreign subsidiary- financial structure

    State some of the conditions under which the foreign subsidiary’s financial structure become relevant?

    		•
  • Q : Representative office of any bank

    Explain what is meant by the Representative office of any bank.

    		•
  • Q : Proceeds on disposal The following

    The following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost

    		•
  • Q : Advantage of Historical Cost in

    What is the advantage of Historical Cost in Decision Making?

    		•
  • Q : Whether MNC open their manufactoring

    For most global companies, China symbolizes a very attractive market in terms of size and growth-rate. Yet, it ranks lower in words of economic freedom and higher in political risk than other countries' markets because it has a communist government. Despite such risks

    		•
  • Q : Define uniform cost manual Give a brief

    Give a brief introduction of the term ‘uniform cost manual’. And also write down its different contents?

    		•