Management & budgetary control is a process for managers to set financial and operational objectives with budgets to compare actual results, and adjust performance accordingly. By proactively controlling performance against predetermined targets at all levels of an organisation, the manager can measure their actual output against their projected targets and improve operational performance where necessary to meet their target levels.
Operational performance in an organisation include: projects, people, set tasks, processes, sales volumes, revenues, resource quantities, operating costs and expenses, assets (tangible and intangible), liabilities and cash flows and other non-financial measures.
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CGMA / FM articles
Links to other practice areas
external reporting; risk management; internal control; financial strategy; pricing, discount and product decision; project management; resource management