Budgeting Flashcards

1
Q

What is budgeting

A

A financial plan for the future concerning revenues and cost of a business

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2
Q

What is budgetary control

A

Process by which financial control is exceeded within an organisation

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3
Q

What do budgets do

A
  • establishes priorities and targets
  • provide direction and co-ordination
  • Motivate staff
  • improve efficiency
  • Control income and expenditure
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