Management Notes

Reference Notes for Management

Importance of Budgetary Control – Budgetary Control | Cost Accounting

Importance of Budgetary Control

Importance of Budgetary Control

Budgetary control is a system of planning and controlling costs based on budgets. Keeping track of budgets lays out what is to be accomplished and how it is to be achieved while controlling ensures that the objectives are achieved and actual results do not deviate more than necessary from the original plan. Budgetary control makes all the difference between drifting aimlessly in an uncharted sea and following a well-charted course towards a desired result. It assists in planning, coordination, and control as a valuable management tool.The principal importance of a budgetary control system are enumerated below:

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