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What is Budgetary control
Budgetary control is the process of determining various budgeted figures for the enterprises for the future period and then comparing the budgeted figures will enable the managing to the actual performance for calculated variances, if any. First of all budget are prepared and then real results are recorded the comparison of budgeted and real figures will enable the management to search out discrepancies and take remedial measures at a proper time. The budgetary control is a continuous process which helps in planning and co ordination. It provides a method of control too. A budget is a means and budgetary control is the end result.
Consider the following quality data for three different manufacturers of automobile weather-strips: Weather-strip Bulb Dimension Specification y=20 +or- 4mm
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Illustrate the concept of Cost The term cost indicates the amount of expenditure (actual or national) incurred on, or attributable to, a specified thing or thing or cost unit.
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