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Budgetary control

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Budgetary control

Posted by Tanavi Gupta 8 years ago

CBSE > Class 12 > Business Studies

1 answers

Priya Singh 7 years, 10 months ago

Budgetary control is a technique of managerial control in which all operations are planned and this will help us in knowing how much we have to spend in order to achieve the future result. It compared the actual result with budgetary standards. This comparison reveals the necessary actions to be taken so that the organisational objectives are accomplished. Budgeting offers the following advantages
(i) Budgeting focuses on specific and time bound targets.
(ii) Budgeting is a source of motivation to the employees they set the standards against which their performance will be appraised and thus, enables them to perform better.
(iii) Budgeting helps in optimum utilisation of resources by allocating them according to the requirements of different departments.
(iv) It helps the management in setting standards.

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