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What is "budget oversight"?

Problem Solving Accounting Budget Monitoring Budget Oversight Budget Development
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Question added by Muhammad Asif Jajja , Accountant , Pakistan Veterinary Medical Council
Date Posted: 2013/06/21
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munir mohsin
by munir mohsin , Managing Director , Pakistan Ordnance Factories

A comparison between annual budget allocated versus its spending as per plan to meet the goal during a fiscal year.

Addisu Demeke CMSA
by Addisu Demeke CMSA , Finance Manager , Girl Effect Enterprise Ltd UK

I think budget oversight encompass the following;

 

  • year-to-date resources and expenditures are occurring in a manner consistent with the budget plans;
  • resource shortfalls and/or expenditure overruns are identified and addressed as soon as possible;
  • emerging or incurred deficits are identified, elimination plans are established, and incurred deficits are actively resolved.

Deleted user
by Deleted user

WHEN THE BUDGET OF A COMPANY DOES NOT COVER CERTIN AREAS THAT AMY CREAT A LOSS FOR THE COMAPNY 

Deleted user
by Deleted user

Forcasting as per budjet Vs Current

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