Human Behaviors in Budgeting - Essay Example

Only on StudentShare

Extract of sample
Human Behaviors in Budgeting

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. ...Show more

Summary

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…
Author : ansleyrath
Save Your Time for More Important Things
Let us write a custom essay on your topic
" Human Behaviors in Budgeting"
with a personal 20% discount.
Find out more

Related Essays

William Hill Plc acquired 624 betting shops of Stanley Leisure an Evaluation
The outline of this article is framed in such a manner that the first section describes the theory of investment decisions for the acquisitions. This research highlights the motivation of top management of William Hill Plc behind this acquisition deal. Subsequent section emphasizes the impact of this acquisition on the capital structure of William Hill Plc.
10 pages (2500 words) Coursework
Best Self Exercise
I am the type of person who does not fear change because I always consider the positive side of it and the countless opportunities that it brings to me. I do not deny the fact that there are moments in which I feel weak and almost break down, but the good thing about me is that I persevere and never stop believing in my self in spite of all the complications and difficulties.
3 pages (750 words) Coursework
Hospital Budgeting
In addition, variance is always determined after the real outcome is realized. It is a management tool used by managers to evaluate the progress of various organizational projects, whether they are in line with the budgeted plan (Drury, 2007). Variance can be reported as either favorable or unfavorable (adverse).
3 pages (750 words) Essay
McDonald's Financial Accounting
These Annual reports portray the performance of any given organization over a number of years usually 5 to 6 years. These Annual Reports are of great assistance for many different stakeholders and potential investors. The stakeholders and potential investors review these Annual Reports to analyze the current and predict the future performance of an organization by reviewing the trend carried out by the organization and the market trend.
6 pages (1500 words) Essay
Capital Budgeting
Topic: Capital Budgeting Name: Course: Instructor’s Name: Date: In recent past, capital budgeting has gained popularity as of the main functions of management. Capital budgeting refers the selections of the projects that will yield higher the returns of the company.
2 pages (500 words) Essay
How Collaborative Communication to Promote the Satisfaction and Loyalty of Franchisees
individualism; power distance; uncertainty avoidance; masculinity/femininity; and time orientation goals. Hofstede has studied cultural similarities and differences in these dimensions and these have proven useful in determining how cross-cultural relations and communication may be facilitated so it becomes successful.
64 pages (16000 words) Dissertation
Financial Management and Accounting
The wide range of institutions included in this particular health care organization means that there are diverse sources of funding. But, nonetheless, the entire organization is privately funded and operates within a conventional framework of raising revenues.
3 pages (750 words) Essay
Budgeting
As such, a budget is tied to business goals and objectives, current and expected financial capability, and management strategies. In a business environment where there are uncertainties, budgeting is a means of managing risks. Issues in budgeting arise from the influence and confluence of internal and external factors that create anticipated and unanticipated risks.
7 pages (1750 words) Essay
MF Global
This collapse came in the year 2008 and 2009 where the firm was hit with fines of over 10 million U.S. dollars. In late October of 2011, the organization faced a financial meltdown due to improper transaction of funds from their customer accounts to cover some of their debts.
5 pages (1250 words) Research Paper
Budgeting
Budgeting. The management of a company’s finances is an important element to any corporation as it hinges on the potential of success and failure of a business. The best way of ensuring that this management is done appropriately is through the process of budgeting (Obstfeld, 2008).
6 pages (1500 words) Assignment
Budgeting
Budgeting Introduction:Budgeting plays an important role in a business. It is very significant for the reason that it permits the firm to ensure of how much credit it may provides to consumer before it begins to have liquidity troubles. “Cash budget is an opinion of inflow and outflow of the business of an organization for a particular period of time” (Foley 2009).
3 pages (750 words) Essay
budgeting
It generally provides considerable assistance in identifying the dimensions of business functions that need more attention to be upgraded and delivers a rational idea regarding the unnecessary expenses incurred within a particular organization with the motive of preserving financial effectiveness.
10 pages (2500 words) Essay
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT