ASTUDYONBUDGETINGANDBUDGETARYCONTROLSYST EMALL

Abstract

Budgeting is a common practice in both the public and private sectors, and it's a useful way to keep track of expenditures. The ability of a company to manage its budget has a significant impact on the organization's ability to achieve its financial and other goals. It is management's goal to stay within the budget parameters once it has been set up. However, due to the dynamic nature of both the external and internal environments, the exact figure cannot be known for sure. For safety's sake, they keep tabs on the discrepancies between their actual spending and their projected spending and subsequently take measures to avoid them from happening again.