Budgeting Question:
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What are the Budgetary Control characteristics?
Answer:
Following are the characteristics of Budgetary control:
★ It deals with the establishment of the budgets.
★ A control technique where actual results are extracted from the organisation's operations and compared with the budget prepared.
★ Any differences or variations are computed and made the responsibility of key individual who can either take actions for maintain the favourable variations or revise the budgets.
★ It deals with the establishment of the budgets.
★ A control technique where actual results are extracted from the organisation's operations and compared with the budget prepared.
★ Any differences or variations are computed and made the responsibility of key individual who can either take actions for maintain the favourable variations or revise the budgets.
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