Budgeting and budgetary control, Financial Management

Budgeting and Budgetary Control:

The next element of financial management is budgeting and budgetary control.  Budgeting is an integral part of the management accounting process, allowing organisations to project into the future using historical data.

Budgeting is generally short term with an accepted maximum of one year into the future (either financial or calendar). Budgeting however can be broken down into smaller increments to include quarterly, monthly, or even weekly budgets.  How far budgets are broken down depends on the organisation itself and its capacity to resource the bookkeeping and ongoing reporting requirements that short term budgets command.

 

 

Posted Date: 10/1/2012 3:58:30 AM | Location : United States







Related Discussions:- Budgeting and budgetary control, Assignment Help, Ask Question on Budgeting and budgetary control, Get Answer, Expert's Help, Budgeting and budgetary control Discussions

Write discussion on Budgeting and budgetary control
Your posts are moderated
Related Questions
This case provides the opportunity to match financing alternatives with the needs of different companies. It allows the reader to demonstrate a familiarity with different types

Question 1: (a) Highlight the main benefits which Mauritius can reap from a strategy of financial globalization. (b) What are the problems with the internationalization of

Q. What is Disadvantages of IRR Method ? Disadvantages of IRR Method:- (i) Computation of IRR involves tedious calculations. (ii) Occasionally this method produces more t

The number of properties sold every month indicates that Thorne Co experiences seasonal trends in its business. There is an sign that property sales are at a low level in winter an

Peak Inc. needs to order Canadian raw materials to use in its production process. The Canadian exporter typically invoices Peak in Canadian dollars. Assume that the current exchang

All treasury securities are issued on the basis of auction. The auction process is computerized and hence qualified broker-dealers can access it electronically. T


What are the major sections of the statement of cash flows? a.Cash flows from Operations b.Cash flows from investing activities c.Cash flows from financing activities

1 In the process of considering two job offers, Jill Saunders wants to determine which position would have the higher monetary value. Job 1 has a salary of $42,500 with $4,800 of n

Question 1: Policy implementation is the most critical stage of the policy process. Critically analyse some of the main constraints that hinder the implementation of public pol