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Topics in Detail about Budgeting and Discussion - Term Paper Example
Finance & Accounting
Pages 12 (3012 words)
BUDGETING [Your name goes here] [Your class name goes here] [Due date of the paper] Introduction Budgeting has always been a key part of any economy. In today’s world, every individual needs to plan his/her activities according to his/her financial budget…
Budgeting is such process that companies use to plan their business activities regarding time and money. This process makes the business operations undergo in an effective and efficient manner. According to Morgan (2006), a company’s financial success depends largely on the budgeting decisions that its managers take concerning all financial aspects of the business. Therefore, it is imperative for a company to develop a perfect budget plan that should help the company achieve its desired goals and objectives, as well as it should help it maintain the financial equilibrium. Objectives In this paper, we will discuss different aspects and key areas related to the process of budgeting in order to understand the role that budgeting plays in the success of a company. We will discuss in detail certain issues in order to know the importance of budgeting for a company. Topics in Detail about Budgeting and Discussion The topics which will be covered in this project include functions of budgeting, employee motivation through budgeting, responsibilities of budget holders, budgetary control, capital budgeting, and techniques of capital budgeting. Discussing these topics will help us get a good understanding of some of the core aspects of budgeting. Let us discuss all of these topics in some detail. Functions of budgeting 1. Financial Analysis Budgeting helps firms in doing financial analysis. ...
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