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
Federal Open Market Committee The principle document making body of the Federal Reserve, the FOMC consists of 7 governors of the Federal Reserve System and 12 Federal Reserve D

Functions of Derivatives Market: To reduce risk or eliminate risks some ways and methods are there. Risk in the capital market can be reduced by diversification or putting eggs

Under what circumstances is a warrant’s value high?  Explain. A warrant’s value would be high while the stock prices, time to expiration, and/or expected stock price volatility a

Question: Part A: Justify and criticize the usual assumption made in Financial Management literature that the objective of a firm is to maximize the wealth of its sharehol

What the term objectives denotes- financial management It must be noted at the outset that term 'objective' is used in the sense of a goal or decision criterion for three decis

Compare and contrast a defined benefit and a defined contribution pension plan. In defined benefit plan retirement remuneration are determined by a formula that typically

Extendible reset bonds are floaters in which the issuer is required to reset the coupon rate so that the issue will trade at a predetermined price (usually above

1.  Discuss the various techniques of cash management for an efficient working capital Management. 2.  Discuss the MM Hypothesis of Capital structure and its importance in corpo

BLACKWATER PLC (a) Calculation of NPV EV = (0.3 × 0.50) + (0.5 × 1.40) + (0.2 × 2.0)    = 0.15 + 0.70 + 0.40 = 1.25 (i.e.) $ 1.25m To conclude the NPV of the project

Q. What do you mean by S Corporation? S Corporation - An S Corporation is a corporation that, under Internal Revenue Code, is normally not subject to federal income taxes. In i