1. The document provides an overview of budgetary control for intrapreneurs, including defining budgets, standards, and the budgetary control process. 2. It describes the types of budgets like cash, expenditure, production, and capital budgets. It also discusses budget committees and their roles in budget preparation and oversight. 3. The document concludes by emphasizing that budgets should be flexible and involve employee participation to be effective for control while also achieving organizational goals.

1. BUDGETARY CONTROL FOR INTRAPRENEURS by : DR. T.K. JAIN AFTERSCHO ☺ OL centre for social entrepreneurship sivakamu veterinary hospital road bikaner 334001 rajasthan, india FOR – CSE & PGPSE STUDENTS (CSE & PGPSE are free online programmes open for all, free for all) mobile : 91+9414430763

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3. What are standards ? Standards are the norms against which the performance is measured to find out the result.

4. What is the process of control? Set standard measure the performance Evaluate performance in light of the standard Find deviation / difference in actual performance in comparison to the standard Take corrective action

5. What are the essentials of effective control system ? 1. there should be proper feedback system 2. the control system should be objective (based on standards) 3. There should be prompt actions on deviations 4. Control should be positive, forward looking and not restrictive 5. There should be flexibility for innovations 6. control system should be as per the requirements of the organisation and economical

6. What is a budget ? A budget is a written plan about what is to be done in future. Budget is system of control and supervision Budget feliciates comparison of performance with the plan Budget helps us in achieving our objectives

7. What are the types of budgets ? There are various types of budgets : 1. cash budget 2. expenditure budget 3. purchase budget 4. production budget 5. Revenue budget 6. Capital Expenditure budget 7. R & D budget 8. Administrative expenses budget

8. Type of budget relating to production? 1. material budget 2. labour budget 3. overhead budget 4. utilisation budget

9. What is budget balance sheet ? It indicates the effect of various budget plans on assets and liabilities of the company and the overall impact on profitability

10. What is the role of budget committee? executives in charge of major functions of business and includes the sales manager, the production manager, the treasurer and the controller, etc.work together to prepare and supervise budgets in the organisation. This is called budget committee.

11. What are the roles of budget committee? Receive, review and suggest revisions in individual budget estimates. Approve budgets and offer revisions, if required. Formulate and announce general policies. Receive and analyse budget reports. Suggest necessary corrective actions to improve efficiency.

12. What is budgetary control? 1 prepare budget 2. review the performance against budget 3. take action to improve the performance 4. there should be follow up

13. What is a budgetary control system? Establishment of a system of management in an organisation by which the company can have proper control on its working through budgets is called budgetary control system. It has many essential components like : 1. budget manual, 2. responsibilities, 3. budget key factor and budget time 4. clear organisation chart 5. proper work system regarding working of the organisation.

15. WHAT IS A BUDGET ? It is a financial statement relating to future. It gives an estimate of revenue and expenses as per the plans of the organisation. Budget is a method of estimating the likely revenues and expenses

16. What is budget manual ? It is a document containing details regarding procedures and processes in an organisation. Budget manual gives the details regarding the working of the organisation.

17. What is a budget key factor? It is the critical factor which is responsible for the budget to work properly (as planned). It is to be identified carefully and properly estimated. Example : demand of products could be a budget key factor

18. What is capital expenditure budget? It is an outlay about proposed fixed investments / purchase of fixed assets.

19. What is a flexible budget ? It is a is a budget which is designed to change in relation to the level of activity attained as against fixed budget, which doesnt change with change in activity . Example : if 1000 units are produced, the expenditure will be 20000, and if 3000 units are produced, the expenditure may be upt 50000.

21. What is a zero base budgeting ? It is a system of budgeting, where all activities are re-evaluated each time a budget is set. It is superior to traditional method, as we are evaluating each iterm and finding its rationale. As against zero base budgeting, in traditional budgeting, a budget is prepared just on the basis of last year's data. We try to add a little bit in the last year's figures as per this year's projections in traditional budget.

22. What is performance budgeting ? In this system, there is a budget, which is linked to performance. It involves evaluation of performance of an organization in the context of both specific as well as overall objectives of the organization.

23. What is a master budget? It is a consolidated budget prepared by combining the summaries of all the functional budgets

24. What are the dangers of budgeting ? It creates inflexibility There is a possibility of over or under budgeting (both the situation create problems) budget creates rigidity Budgets takes away attention from main objectives People give more importance to budget (not to the ultimate goals of the organisation ).

25. Effective budgeting ? The budget should be related to the goals of the organisation. Budget should be able to link the performance to the mission and vision of the organisation There should be flexible budgeting budget should be formulated by employee participation Budget should be actually implemented Budget limiting factors must be specified

26. How else can control be maintained ? Personal observation Guidance Feedback Statistical Data analysis Ratio analysis Break Even Analysis Analysis of financial data

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