Budgeting and budgetary control, Financial Management

Assignment Help:

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.

 

 


Related Discussions:- Budgeting and budgetary control

The investment of public pension monies, Question: (a) The key determin...

Question: (a) The key determinants of investment decisions in the public sector are:- legal, political and financial factors. Show the importance of each determinant when de

Financial capital, Assume that you have just "run out of money" and are una...

Assume that you have just "run out of money" and are unable to move your "idea" from its development stage to production and the startup stage.  However, you remain convinced that

Capital investment decision-making process , Identify and explain the key s...

Identify and explain the key stages in the capital investment decision-making process and the role of investment appraisal in this process.

Difference international and domestic financial management, How is internat...

How is international financial management different from domestic financial management? Answer:  There are three main dimensions that set separately international finance from

Relationship between spot rates and short-term forward rates, Assume ...

Assume that an investor invests $X in a 3-year zero coupon Treasury security. Three years from now, the total return received would be:

Explain the significance of the term additional funds needed, Explain the s...

Explain the significance of the term additional funds needed . When the pro forma balance sheet is finished, total liabilities and total assets and equity will rarely match.

Brief the term directors and managers, Directors and managers While dir...

Directors and managers While directors and managers are in concentrate attempting to promote and balance the interests of shareholders and other stakeholders it has been argued

What is a fair price for a share, Sega Inc. expects earnings/dividends to g...

Sega Inc. expects earnings/dividends to grow at an annual rate of 30 percent for the next 4 years. After that they feel that the market will get saturated and the growth rate will

Classification of sources of finance, CLASSIFICATION OF SOURCES OF FINANCE ...

CLASSIFICATION OF SOURCES OF FINANCE In the market, there are several sources of finance, with conflicting risk characteristics and with conflicting cost structures. Numerous m

Bond indexation, Bond indexation serves the purpose of replicating th...

Bond indexation serves the purpose of replicating the performance of a predetermined benchmark as closely as possible. These benchmarks are generally very broader

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd