LIVE MANAGEMENT EDUCATION

 There are many techniques of budgetary control. These techniques are budgetary control, inventory control, and so on. Every technique is important and plays an important role in cost. control. Among all budgetary control is an important technique of cost control. The process of preparing a budget for the coming financial year and comparing it for actual performance and resource deviation to make the organization more effective, efficient. This process is called budgetary control. Many experts define budgetary control in several ways. Some ways are as below: According to Keller and Ferrara Stare, a " budget is an action plan to achieve stated objectives based on predetermined series of related assumptions". According to G.A. Welsh, "A budget is a written plan covering projected activities of a firm for a definite period". According to CIMA UK, " A plan quantities in monetary terms prepared and approach before a defined period. Usually showing planned income to ...

 There are many concepts about cost. These concepts are as below: According to the first concept the money we spend to produce any product and service. This money is called cost.  In other words, we can say that the value of money that has been spent to produce any product or service. This value is called cost. According to the second concept, all efforts, materials, resources, and time spend to produce any product and service the value of all these things is calculated. This value is known as cost. Cost Control- It is a wide range concept. The process of making policy rules, regulations, laws to minimize our expenditure to produce any product or service. This process is called cost control. In other words, we can say that the process of comparing expenditure to budget and minimizing expenditure. This process is called cost control. Nature of cost control: There is much nature of cost control. These natures are as below: 1. It is the internal activity of the organization. 2. I...

 There are many conditions organisation face. These conditions are normal, certainty, uncertainty and probability. Every condition is important for organisation because organisation use to catch the condition of environment by effective way and achieve their goal. Among all probability is also an important condition of market and organisation possess, implement, execute their policy to achive the  situation by effective way and achieve their goal. The process in which organisation imagines the coming situation by an imaginary way and make them ready to do better in this condition. This process is called probability. In other words we can say that the process in which organisation imagines the coming situation of economy, environment by an innovative way and make policy, programmes, rules, regulation, law to do better in this condition. This process is called probability. Nature of probability: 1. It is a part of economy  2. It is a part of market. 3. It is a natural condi...

 We know that there are many functions a manager performs. These functions are planning, organizing, staffing, directing, controlling, leading, coordinating, and decision making. Every function is important and plays an important role in the development of the organization. Among all decision-making is one of the important functions that is performed by the manager and plays a very important role in the development and goal achievement process of the organization. The process in which the manager chooses one of the best alternatives to achieve his goal this process is called decision-making. In other words, we can say that there are many alternatives to perform any function of the business. Every alternative requires a particular type of resources like man, money, material, etc. The process in which the manager considers all alternatives and chooses one of the best alternatives according to the capacity, the strength of the organization. This process is called decision-making. Many...

We know that Management plays an important role in the development, growth, and goal achievement process of the organization. There are many models of Management. These models are Participative Management, Database Management, Management by Objectives, Management by Exception, and so on. Every model is important and plays an important role in the growth, development, and goal achievement process. Among all Management by exception is also an important model that plays an important role to remove variance and improve the performance of the organization and ensure the goal achieving process.  In other words, we can say that the process in which variance is forecasted and remove by policy, rules, regulation, law and improve the function of the organization. This process is called management by exception.  In other words, we can say that the process in which actual performance is compared with predefined performance and variance is removed by planning, organizing, staffing, directi...