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St_2к_УГЛУБЛ_Unit-2

Budgetary Control

A budget is a plan quantified in ____(1)____ , prepared and agreed in advance, showing the ____(2)____ and expenditure over a given period of time. The main purpose of ____(3)____ is to plan and control the organisation’s activities. The ____(4)____ is a plan for action in the next financial period. It can be used to delegate ____(5)____ to departments and allow senior management to ____(6)____ investigating major deviations from the plan. Performance is ____(7)____ monitored against the ____(8)____ and feedback is an important part of the budgetary process.