Budgetary Control

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Budgetary Control

CIMA- London

Budgetary Control
 Budgetary control is a system of controlling costs through preparation of budgets Budgeting is thus only apart of the budgetary control Widely used in the business world Many business fail because of lack of efficient planning which could have revealed that the business should not have been started or that one should have been prepared to face serious dangers ahead.
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Definition
“Budgetary control is the establishment of budget 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”.
CIMA- London
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