Budgetary control is the process of determining various actual results with budgeted figures for the enterprise for the future period and standards set then comparing the budgeted figures with the actual performance for calculating variances, if any. Benefits are; Definite planning, Enhanced efficiency, Proper communication, Control, Co-ordination, Delegation of authority, Motivation, Maximization of profit, Forecasting credit needs, Uniform policy.
How Lima can help you
Lima will assist in preparation of budget and implementing budgetary control in every functional operation of business. The preparation of effective and realistic budget is the key factor in budgetary control. Lima prepares budgets considering all internal and external facts. It considers all socio economic, geo political aspects.
Lima uses different methods and techniques for calculating and studying variances.
The review process will update the budget and make necessary corrections.
Lima strength and experience
Lima Budget assist is a predictive business support tool designed for systematic and effective management of enterprise operation. Holistic approach is the major highlight of the tool and its start from the vision of the business. Team Lima will make a gap analysis based on the market potential, geo- political and socio – economic situations related to the enterprises. With defining target for different components and resources required to achieve the target, the team LIMA will be a part of budget implementation, evaluation and monitoring.
Lima Approach
We use modern techniques and methods for preparing the budget. Different modern techniques applied to different type of companies and different activities. For better and accurate results Lima uses group of formulas with allotted weightage. Every value predicted with tools and methods will be validated with real life facts and historic data.
The tools for variance analysis and the methods and procedure for evaluating the reasons for variance are doing scientifically with approved modern techniques.
Budgetary control as a business control tool will be applied in a holistic way with all segments of entity. The budgetary control study will be used for improving the performance of the business.
Special Features
The budget preparation techniques, tools, procedure and methods adopted by Lima are the most sophisticated one. The budget data preparation and validation of data is the major specialty of the operation. Lima uses rolling budgets as and when possible. The modern technique of zero base budget and weighted budgets are used wherever applicable. The application of variance analysis as a tool to improve business management is specially designed by team Lima.