Budgeting Flashcards
1
Q
What is budgeting
A
A financial plan for the future concerning revenues and cost of a business
2
Q
What is budgetary control
A
Process by which financial control is exceeded within an organisation
3
Q
What do budgets do
A
- establishes priorities and targets
- provide direction and co-ordination
- Motivate staff
- improve efficiency
- Control income and expenditure
