Question

Difference between budget budgeting and budgetary control

Answer 1

Estimates in business for the future time of period are called budgets on the other hand in budgeting is the process in which to prepare those estimates that we have. While budgetary control is a mechanism it is used for achieving the performance on the basis of budgets. On the other side we can say that budgets or budgeting process are the part of the planning where budgetary control is attached with the co-ordination and control     

Answer 2

Budget refers to an already decided upon statement that gives details of the approximate expenditure and income for a specific time period.

Budgeting refers to the process of formulating a detailed financial and operating plan for pre-determined time intervals.

Budgetary control refers to a method of using already prepared budgets to plan and control any activity pertaining to the production or sale of commodities or services.