Operation of Budgetary Control



The steps involved in a Budgetary Control system can be outlined as follows:

  1. Establish a plan or target of performance which coordinates all the activities of the business.
  2. Record the actual performance
  3. Compare the actual performance with that planned.
  4. Calculate the differences, or variances, and analyze use reasons for them.
  5. Act immediately, if necessary, to remedy the situation.


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