A budget is an instrument of management used as an aid in the planning, programming and control of business activity. It is based upon past statistical data and it predicts the estimated labour, sales, production and other management requirements for future. Budgetary control makes use of budgets for planning and controlling all aspects of producing and/ or selling products or services. It attempts to show the plans in financial terms. Budgetary control is the planning in advance of the various functions of a business so that the business can be controlled. It relates, expenditure to a section or department who incurs the expenditure, so that the actual expenses can be compared with the budgeted ones, thus providing a convenient method of control. The presentation will give further understanding on the topic.

Saket Kumar

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