Mba project free: A report on budget analysis of a cement company
INTRODUCTION
BUDGET: Budget
is essential in every walk of our life – national, domestic and Business. A
budget is prepared to have effective utilization of funds and for the
realization of objective as efficiently as possible. Budgeting is a powerful
tool to the management for performing its functions i.e., formulation plans,
coordination activities and controlling operations etc., efficiently. For
efficient and effective management planning and control are tow highly
essential functions. Budget and budgetary control provide a set of basic techniques
for planning and control.
A
budget fixes a target in terms of rupees or quantities against which the actual
performance is measured. A budget is closely related to both the management
function as well as the accounting function of an organization.
As
the size of the organization increases, the need for budgeting is
correspondingly more because a budget is an effective tool of planning and
control. Budget is helpful in coordinating the various activities (such as
production, sales, purchase etc) of the organization with result that all the
activities precede according to the objective. Budgets are means of
communication. Ideas of the top management are given the practical shape. As
the activities of various department heads are coordinated at the much needed
for the very success of an organization. Budget is necessary to future to
motivate the staff associated, to coordinate the activities of different
departments and to control the performance of various persons operating at
different levels.
Budgets
may be divided into two basic classes. Capital and operating budgets. Capital
budget are directed towards proposed expenditure for new projects and often
require special financing.
The operating budgets are directed towards achieving
short-term operational goals of the organization for instance, production or
profit goals in a business firm. Operating budgets may be sub-divided into
various departmental of functional budgets.
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