Which is not a step in the budgetary control process? (2024)

Which is not a step in the budgetary control process?

Final answer:

What are the steps in budgetary control?

Which of the following is not objective of budgetary control process?

In conclusion, the option "c) To determine the number of employees needed" is not an objective of budgetary control. Budgetary control primarily focuses on financial planning, cost control, and performance evaluation rather than determining staffing requirements.

Which from the options below is not a step from budgetary control?

Amongst the options stated, an instrument of delegation and accountability is not the feature of budgetary control.

What are budgetary controls?

Budgetary control is financial jargon for managing income and expenditure. In practice it means regularly comparing actual income or expenditure to planned income or expenditure to identify whether or not corrective action is required.

What are the 4 steps of the budgeting process?

Budgeting for the national government involves four (4) distinct processes or phases : budget preparation, budget authorization, budget execution and accountability.

What are the 5 steps of budgeting process?

Which of the following is not part of the budgeting process?

Preventing net operating loss is not a part of budgeting as the budget is prepared towards finding realizable goals. Budgets are prepared to know both profitable as well as unprofitable areas hence preventing losses would not help in proper forecasting.

Which of the following is not a part of budget?

Answer: Option: Planning Explanation: Planning is not a part of budgeting.

Which of the following is not involved in preparation of budget?

Except Comptroller and Auditor General and Finance Commission all others are involved in preparation of budget. Comptroller and Auditor General is mentioned in our Constitution under article 148.

What are the three steps in budgetary control?

What is budgetary control and non budgetary control?

The difference between budgetary and non budgetary control is that the budgetary control refers to the control on the financial statement prepared for a period of time. The non budgetary control refer to the various methods of managerial statistics, break-even analysis, internal audit, cost accounting and more.

What are the non budgetary controls?

The Non-Budgeting Control Device are as follows:

They are statistical data, special reports and analysis, breakeven analysis, internal audit, standard costs, ratio-analysis etc.

What are the four 4 key principles of budgetary control?

The system of budgetary control involves the below key principles: Setting standards to coordinate and control the budget process (policies and procedures). Recording and measuring current financial performance (preparing budgets). Making comparisons between actual and budgeted results (variance analysis).

What is the first step of the budgetary system?

1. Assess your financial resources. The first step is to calculate how much money you have coming in each month. This might be investment income, government assistance, student loans, employment income, disability benefits, retirement pensions or money from other sources.

What are the four characteristics of budgetary control?

What are the 7 steps in the budget process?

What are the 9 steps of the budget process?

Which of these is not a step of capital budgeting?

Accrual principle is not followed in capital budgeting.

Which of the following are part of the budget process?

The Federal budget process can be broken down into four phases: budget formulation, the congressional budget process, budget execution and control, and audit and evaluation.

Which of the following processes is involved in budgeting?

Common processes include communication within executive management, establishing objectives and targets, developing a detailed budget, compilation and revision of budget model, budget committee review, and approval.

What is not a budget?

Non-Budgeted Funds

Funds received in the form of federal contracts and grants, private gifts and grants, special agreements with state and local agencies, and certain other minor income sources are considered non-budgeted (or extramural) funds.

What are the 4 parts of a budget?

The Key Components of a Budget

Learn about net income, fixed expenses, variable expenses, and discretionary expenses and examples of each.

What are the three parts of budgeting?

What is preparation of budget process?

Normally, the budget-making process starts in the third quarter of the financial year. The budget has four stages viz., (1) estimates of expenditures and revenues, (2) first estimate of deficit, (3) narrowing of deficit and (4) presentation and approval of budget.