B Com Exam > B Com Videos > Cost Management > Objectives of Budgetary Control, Cost Management
Objectives of Budgetary Control, Cost Management Video Lecture | Cost Management - B Com
|
48 videos|51 docs|17 tests
|
FAQs on Objectives of Budgetary Control, Cost Management Video Lecture - Cost Management - B Com
| 1. What are the objectives of budgetary control? |  |
Ans. The objectives of budgetary control are to plan and monitor the financial activities of an organization, allocate resources effectively, control costs, evaluate performance, and facilitate decision-making.
| 2. How does budgetary control help in cost management? | |
Ans. Budgetary control helps in cost management by setting financial targets and comparing actual expenses to the budgeted amounts. It allows organizations to identify areas of cost overruns, take corrective actions, and control costs more effectively.
| 3. What is the role of budgetary control in B Com exams? | |
Ans. In B Com exams, the concept of budgetary control is often tested to assess students' understanding of financial planning, resource allocation, cost control, and performance evaluation. Students may be asked to analyze budget variances, calculate key ratios, or propose budget revisions based on given scenarios.
| 4. How does budgetary control contribute to decision-making? | |
Ans. Budgetary control provides valuable financial information that aids in decision-making processes. By comparing actual results to the budget, managers can identify deviations and make informed decisions to address any issues or capitalize on favorable variances. It helps in making decisions related to resource allocation, cost reduction, and performance improvement.
| 5. Can you provide an example of how budgetary control is used in real-life situations? | |
Ans. Sure, for example, a manufacturing company may use budgetary control to monitor its production costs. By setting a budget for each cost element, such as raw materials, labor, and overheads, the company can track actual expenses against the budgeted amounts. If the company notices a significant increase in raw material costs, it can investigate the reasons behind it and take necessary actions like negotiating better prices with suppliers or finding alternative sources. This helps the company manage its costs efficiently and make informed decisions to improve profitability.
Related Exams
About this Video
|
4.85/5 Rating |
|
Dec 23, 2024 Last updated |
Video Description: Objectives of Budgetary Control, Cost Management for B Com 2024 is part of Cost Management preparation.
The notes and questions for Objectives of Budgetary Control, Cost Management have been prepared according to the B Com exam syllabus.
Information about Objectives of Budgetary Control, Cost Management covers all important topics for B Com 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Objectives of Budgetary Control, Cost Management.
Introduction of Objectives of Budgetary Control, Cost Management in English is available as part of our Cost Management for B Com & Objectives of Budgetary Control, Cost Management in
Hindi for Cost Management course. Download more important topics related with notes, lectures and mock test series for
B Com Exam by signing up for free.
Description
Video Lecture & Questions for Objectives of Budgetary Control, Cost Management Video Lecture | Cost Management - B Com - B Com full syllabus preparation | Free video for B Com exam to prepare for Cost Management.
Information about Objectives of Budgetary Control, Cost Management
Here you can find the meaning of Objectives of Budgetary Control, Cost Management defined & explained in the simplest way possible.
Besides explaining types of Objectives of Budgetary Control, Cost Management theory, EduRev gives you an ample number of questions to practice Objectives of Budgetary Control, Cost Management tests,
examples and also practice B Com tests.
|
48 videos|51 docs|17 tests
|
|
Explore Courses for B Com exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Viva Questions
,practice quizzes
,study material
,Objectives of Budgetary Control
,past year papers
,Summary
,mock tests for examination
,Cost Management Video Lecture | Cost Management - B Com
,Cost Management Video Lecture | Cost Management - B Com
,Objectives of Budgetary Control
,ppt
,Free
,Exam
,Sample Paper
,Important questions
,Semester Notes
,Extra Questions
,Cost Management Video Lecture | Cost Management - B Com
,MCQs
,Previous Year Questions with Solutions
,shortcuts and tricks
,video lectures
,Objective type Questions
,Objectives of Budgetary Control
;
Study Objectives of Budgetary Control, Cost Management on the App
Students of B Com can study Objectives of Budgetary Control, Cost Management alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Objectives of Budgetary Control, Cost Management,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Objectives of Budgetary Control, Cost Management is prepared as per the latest B Com syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup