14
Budgetary Control
CHAPTER OUTLINE
LEARNING OBJECTIVES
After reading this chapter, you should be able to understand:
- Meaning of budget and budgeting
- Process of establishing budgets
- Differences between fixed and flexible budgets
- Different types of budgets and their implications in planning
14.1 Introduction
A budget (from the old French word bougette, meaning purse) is generally a list of all planned expenses and revenues. It is a plan for saving ...
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