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Budgeting and budgetary control: - Budgeting as a tool of management control- steps in budget preparation-Functional budget (simple Problems on Sales, Production, Material ), flexible budgets. (does not include Master budget & Cash budget)
Budget
A Budget is a financial and/or quantitative Statement, prepared prior to a defined period of time, of the policy to be pursued during that period for the purpose of attaining given Objective.
 A budget is prepared prior to a defined period of time
 It is pr ....etc

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Title: Budgeting and budgetary control
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Budgeting and budgetary control



Introduction

Budgets can be prepared for and used by anyone and anything. That is, we can prepare and use personal budgets and organisations, ministries and non profit making organisations can all use them.

Budgets, by definition, have to be prepared in advance; and for this reason, they are often referred to in terms of their being part of a feedforward system. Feedback is a term frequently heard both in accounting and ....etc

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