define control andhow budget use in control
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
define control andhow budget use in control
Budgets are prepared by an organization to estimate the revenues from different projects and the estimated cost of different projects.
Accounting control is a tool under which the different process of accounting is put together in a manner to manage the risk in the organization. Control is technique used by the organization to keep the cost of different projects under control. Control tool is used to keep the expenses within an acceptable limit.
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