Definition of budgetary control, Financial Management

DEFINITION OF BUDGETARY CONTROL

As per the ICMA, BUDGETARY CONTROL is the establishment of budgets, relating the tasks of executives to the requirements of a policy, and the constant comparison of actual with budgeted results either to secure by individual action, the objectives of that policy or to provide a basis for its revision.

BUDGETARY CONTROL is the system of accounting and management control in which all operations are predicted as far as possible and are planned ahead and actual results are matched with planned & forecasted ones - J.A.SCOTT.

Posted Date: 10/15/2012 7:45:16 AM | Location : United States







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