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Organization of Budgetary Control
Budgetary control ideally includes the given steps as:
1. The creation of budget centres.
2. The introduction of sufficient accounting records.
3. The preparation of organization charts.
This explains the functional responsibilities of all member of management.
A. The establishment of a budget committee as:
It will consist of financial and operating managers, who one will be essential to review, Discuss and co-ordinate business activities. The major function of this committee includes as:
- Explanation of the system and its objectives.
- Definition of the duties and responsibilities.
- Reports and statements essential for each budget period.
- Deadline dates via that data are to be submitted.
explain the different methods of costing
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