PPt - Budget Concept & Types B Com Notes | EduRev

Cost Accounting

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B Com : PPt - Budget Concept & Types B Com Notes | EduRev

 Page 2


?
Based on a future plan of actions
?
Prepared in advance
?
Based on objectives to be attained
?
Expressed in monetary and/or physical units
?
Prepared for the implementation of policy 
formulated by the management
2
Page 3


?
Based on a future plan of actions
?
Prepared in advance
?
Based on objectives to be attained
?
Expressed in monetary and/or physical units
?
Prepared for the implementation of policy 
formulated by the management
2
Budget may provide for:
?
 a sale of Rs. 1,00,000(i.e., monetary 
units) or 
?
for a sale of 10,000 units (i.e., physical 
units) or
?
For a sale of 10,000 units of Rs. 1,00,000 
(i.e., both)
3
Page 4


?
Based on a future plan of actions
?
Prepared in advance
?
Based on objectives to be attained
?
Expressed in monetary and/or physical units
?
Prepared for the implementation of policy 
formulated by the management
2
Budget may provide for:
?
 a sale of Rs. 1,00,000(i.e., monetary 
units) or 
?
for a sale of 10,000 units (i.e., physical 
units) or
?
For a sale of 10,000 units of Rs. 1,00,000 
(i.e., both)
3 4
Page 5


?
Based on a future plan of actions
?
Prepared in advance
?
Based on objectives to be attained
?
Expressed in monetary and/or physical units
?
Prepared for the implementation of policy 
formulated by the management
2
Budget may provide for:
?
 a sale of Rs. 1,00,000(i.e., monetary 
units) or 
?
for a sale of 10,000 units (i.e., physical 
units) or
?
For a sale of 10,000 units of Rs. 1,00,000 
(i.e., both)
3 4
?
Means of control 
?
Actual state of affairs is compared with the 
budget
?
Appropriate action is taken to correct 
deviations if any
?
Use of a budget to control a firm’s activities 
is known as BUDGETARY CONTROL.
5
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