MEANING OF BUDGETARY CONTROL


MEANING OF BUDGETARY CONTROL

CIMA has defined the terms ‘budgetary control’ as “Budgetary control is the establishment of budgets relating to the responsibilities of executives of a policy and the continuous comparison of the actual with the budgeted results, either to secure by individual action the objective of the policy or to provide a basis for its revision. “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.

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