"It is impossible for a man to learn what he thinks he already knows."
Budgetary control is the one of best techniques of controlling, management and finance in which every department’s budget is made with estimated data. Organization can only effectively use its resources, if someone stops misuse of money and funds of the company. If budgetary control is used in a company, at that time, no action will be taken before making a budget. Responsible personnel of the company will be accountable for his action.
A budget helps create financial stability. By tracking expenses and
following a plan, a budget makes it easier to pay bills on time, build
an emergency fund, and save for major expenses. Overall, a budget
puts an organisation on stronger financial footing for both the day to-day and the long term.