Budget Manual(Part8)

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Here,in this Part 7, we learned the following reasons for companies to set up Budget Manual:-

• The budget manual documents the administration of budgeting. It contains the purpose of, procedure for and responsibility of the people involved in budgeting.

Others details includes:

• The objectives of the business and the part which budgetary control plays in achieving these objectives;

• The procedures to be adopted in operating the budgetary control system;

• The responsibilities and duties of those connected with the preparation of the budgets;

• The reports and statements required for each budget period;

• The functions of the budget committee and

• The accounts classification to be used.

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