Budgetary Control
Not what you're looking for?
At least 100 words please.
The use of budgets in controlling operations is known as budgetary control. Such control takes place by means of budget reports that compare actual results with planned objectives. The budget reports provide management with feedback on operations.
Budgetary control involves developing budgets, analyzing the differences between actual and budgeted results, taking corrective action, and modifying future plans if necessary.
That being said, is a budget always necessary? Why?
Purchase this Solution
Solution Summary
This solution explains if and when budgets are needed. The reasons why budgets are (or are not) needed are thoroughly discussed.
Solution Preview
A budget is always necessary. Budgets are needed for the reasons described and for several other important factors. Budgets are needed for businesses of all sizes and in all industries. As stated in the commentary above, budgets allow management to analyze ...
Purchase this Solution
Free BrainMass Quizzes
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Motivation
This tests some key elements of major motivation theories.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.