Question

how could managers use annual report figures to measure budget control success?

Answer 1

The annual reports figures provide information on the organisation’s mission and history and summarize it's achievements in the past year. It laid a basis for budget control success as it allows making a comparison of the actual costs and revenues for a period with the budgeted costs and revenues thus depicts the different between the budgeted performance and the actual company performance. The annual report is a key tool as it helps the management to analyze the business areas of that are meeting their budget targets and the departments or areas that need improvement; and thus leading to an successful budgetary control