Budgets

A budget is a financial or quantatitive statement which is prepared and approved prior to a defined period of time, of the policy to be pursued during that period for the purpose of attaining a given objective. It may include income, expenditure and the employment of capital. Budgets are of great significance for any business as they help in plannin, controlling, motivating,coordinating,communicating and evalluating by comparing the actual with budgeted results and taking corrective action for adverse variances.
The Harlton fabrication Company should introduce a budgetary control ...