Budgetary planning and control - accounting techniques, Cost Accounting

Budgetary Planning and Control - Accounting Techniques

A budget is a   plan of action expressed in monetary terms. Therefore it is a quantified plan of what one intends to do.

All business must prepare a budget that is a document which has:

1. Quantify the strategy that management has decided to implement in order to achieve the business objectives for a future period. The budget will signify planned expenditure and income and may be analyzed to involve details for each product department and type;

2. Offer a base for control cycle; the control cycle is as given:

  • Establish the plan or budget
  • Measure real performance
  • Compare plan along with real performance
  • Take corrective action like required

 

3. Provide a mechanism via such management responsibility may be matched along with the budgetary information and assisted with the budgetary control cycle.

Posted Date: 2/5/2013 2:25:16 AM | Location : United States







Related Discussions:- Budgetary planning and control - accounting techniques, Assignment Help, Ask Question on Budgetary planning and control - accounting techniques, Get Answer, Expert's Help, Budgetary planning and control - accounting techniques Discussions

Write discussion on Budgetary planning and control - accounting techniques
Your posts are moderated
Related Questions
discuss stages of accounting for costs

a.    If you could pick a single source of cash for your business, what would it be? Why? b.    How can a business earn large profits but have a small balance in Retained Earnin

Price and Quality Aspect of Variance At this point it is serious to understand that all variance has two aspects, a price aspect and a quantity aspect: these two aspects combi

advantages and disadvantages of just in time

A 20-year bond pays a coupon of 8 percent per year (coupon paid semi-annually). The bond has a par value of $1000. What will the bond sell for if the nominal YTM is: a) 10 per

Farmer Dorr figures that her fixed costs are $2,000, and the relevant portion of her total cost curve is:                                           Thousands of

Small Steps sells step stools. Their budget information is shown below. selling price: $40 per stool Variable expense:$30 per stool Fixed Expense:$24,000 use the above inform

The time of cashflows for the project are as follows; Operating Income (rent) is received annually, in advance. For NPV purposes they are assumed to have been received at th

from the following particulars calculate the earning of worker . rate per hours $0.50 standard time 200 hours time taken 140 hours

In January, 2008, Sanford Corporation purchased a patent for a new product for $1,200,000. The patent was valid for fifteen years but it was estimated to have a useful life of ten