Difference between standard costing and budgetary control
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Standard costing
1. It is concerned with control of costs or expenses
2. It is the projection of cost accounts.
3. It requires standardization of products.
4. It should be applied in whole organisation and cannot be applied for only one section or division.
5. Budgeting is necessary for adopting standard costing.
Budgetary control
1. It is concerned with the operation of business without interruption.
2. It is a projection of financial accounts.
3. It does not necessarily involve standardization of products.
4. It can be adopted only for a section also.
5. Standard costing is not necessary for adopting budgetary control.
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1. It is concerned with control of costs or expenses
2. It is the projection of cost accounts.
3. It requires standardization of products.
4. It should be applied in whole organisation and cannot be applied for only one section or division.
5. Budgeting is necessary for adopting standard costing.
Budgetary control
1. It is concerned with the operation of business without interruption.
2. It is a projection of financial accounts.
3. It does not necessarily involve standardization of products.
4. It can be adopted only for a section also.
5. Standard costing is not necessary for adopting budgetary control.
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