Budgeting and budgetary control

BUDGETING AND BUDGETARY CONTROL

Introduction ,[object Object],[object Object],[object Object]

Outline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Meaning of Budget ,[object Object],[object Object]

Meaning of Budget (contd) ,[object Object],[object Object],[object Object],[object Object]

Characteristics of Budget ,[object Object],[object Object],[object Object]

Xteristics of Budget (contd) ,[object Object],[object Object],[object Object]

Types of Budget ,[object Object],[object Object],[object Object]

Types of Budget (contd) ,[object Object],[object Object],[object Object]

The Budgeting Process ,[object Object],[object Object],[object Object]

Determine budget policies and guidelines. ,[object Object],[object Object],[object Object],[object Object],[object Object]

Set up a Budget Committee. ,[object Object],[object Object],[object Object]

Set up a Budget Committee (contd). ,[object Object],[object Object],[object Object]

Budget ctee (cont) ,[object Object],[object Object],[object Object],[object Object],[object Object]

Prepare assumptions and forecasts. ,[object Object],[object Object],[object Object],[object Object]

Produce functional and subsidiary budgets. ,[object Object],[object Object],[object Object],[object Object]

Produce the Master Budget. ,[object Object],[object Object],[object Object]

Obtain approval for the budget. ,[object Object],[object Object],[object Object]

Publish and implement the budget. ,[object Object],[object Object],[object Object]

Review the Budget ,[object Object],[object Object]

Approaches to Budgeting ,[object Object],[object Object],[object Object]

[object Object],[object Object]

Meaning of Budgetary Control. ,[object Object],[object Object],[object Object]

1. Identify Variances ,[object Object],[object Object],[object Object]

2. Analyze and Investigate variances ,[object Object],[object Object],[object Object]

3. Give Feedback to Operators ,[object Object],[object Object]

4. Take Corrective Action ,[object Object],[object Object]

Budgetary Control Report Format Operating Profit Other Costs Staff Costs Admin Expenses Cost of Sales Turnover Action Comments Variance Budget Actual

Principles of Good Budgetary Control ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Communication of corporate objectives. ,[object Object],[object Object]

Enhances systematic and logical planning. ,[object Object],[object Object],[object Object]

Coordination ,[object Object],[object Object]

Clarification of Authority and Responsibility. ,[object Object],[object Object]

Control ,[object Object],[object Object],[object Object]

Performance evaluation. ,[object Object],[object Object],[object Object]

Motivation. ,[object Object],[object Object]

Resource Allocation ,[object Object],[object Object]

Group Discussion ,[object Object],[object Object]

Budgeting and budgetary control

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