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Human Behaviors in Budgeting
Finance & Accounting
Pages 8 (2008 words)
Human Behaviours in Budgeting Table of Contents Table of Contents 2 Introduction 3 Objectives of Budgeting 4 Human Behavior in Budgeting 5 Budget as a Motivational Instrument 6 Behavioral Trait of Budgeting 7 Management Control in Budgeting 8 Budgetary Control in Manufacturing Industry in Nigeria 9 Budgetary Control in Guinness Nigeria 9 Budget as Motivational Instrument in Guinness Nigeria 10 Communication and Coordination through Budgeting 11 Management Control System in Guinness Nigeria 11 Conclusion 12 References 13 Bibliography 16 Introduction In recent times, increased attention is being given to the importance of human behaviours in budgeting of the organizations.
A budget can deliver a criterion where employees are encouraged to achieve their targets under certain conditions. Conversely, budget can also inspire disorganization and conflict between employees or managers. If people are dynamically involved in developing budget, then it can be used as a device to support managers in handling their branches effectively. Budget can be a useful device for motivating people but if budget is developed from top level and enforces a threat for employees it can be resisted and will cause harm to the organization (Drury, 2007). Objectives of Budgeting Through budget, organizations can regulate the actions of different divisions. An effective budgetary system can act as a comprehensive control system for organization if there are certain implied or apparent links between budgetary processes and organizational rewards (Flamholtz, 1983). Budgeting comprises of creating specific targets, implementing strategies to accomplish the targets, and occasionally match actual status with the targets. ...
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