Financial forecasts estimate future income and expenses for a business over a period of time.

Budget forecasting is a process that analyzes an organization’s financial statements and current financial position, and
presents an assumption of how the organization will behave in the future.

actual control is achieved through the ultimate decision of the manager that something should be done differently and
the translation of that decision into practice.

Document control is the process of ensuring that organizations realize value from documents without being exposed to
unnecessary risks. This can include processes, policy, metadata and toolsets such as document management systems
designed to make documents secure, available and useful

paperwork provides guidance on what control actions should be taken and therefore it is rather a cost information
system.

A budget is an outline of expectations for what a company wants to achieve for a particular period, usually one year.

Contract is a promise or set of promises that are legally enforceable and, if violated, allow the injured party access to
legal remedies.

Budget forecasting is a process that analyzes an organization’s financial statements and current financial position, and
presents an assumption of how the organization will behave in the future.

QUALITY ASSURANCE (QA)

-It is the planned and systematic activities implemented in a quality system so that quality requirements for a product or
service will be fulfilled

1.Difference between Financial Forecast and Budget Forecast

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3. Aims of Cost Control

4. HOW TO PROCESS DOCUMENT CONTROL