According to J.A. Scott, "it is the system of management control and accounting inwhich all operations are forecasted and so far as possible planned ahead, and the actualresults compared with forecasted and planned ones."
BUDGET, BUDGETING AND BUDGETARY CONTROL
A budget is a blue print of a plan expressed in quantitative--terms. Budgeting is atechnique for formulating budgets. Budgetary control, on the other hand, refers to the principles, procedures and practices of achieving given objectives through budgets.According to Rowland and William have differentiated the three terms as;"Budget are the individual objectives of a department, etc., where as Budgeting may besaid to be the act of building budgets.' Budgetary control embraces all and in additionincludes the science of planning the budgets to affect an overall management tool for the business planning and control."
DIFFERENCE BETWEEN BUDGET
1.The budget is an act of planning whereas budgetary control is an act of controlling.2.The budget concerns itself with the future. Budgetary control ishowever concerned with the present activities although it is prepared on the basis of data collected from the past budget. But the activities that the budgetary controlinvolves are not limited to that budget only. It is also related to the questions as tohow far the budget can effectively utilized in future.3.The budget fixes the target and budgetary control helps to arrive at that target.