'The budget is a tool of repression rather than innovation' cited by Hope and Fraser - Essay Example

Only on StudentShare

Extract of sample
'The budget is a tool of repression rather than innovation' cited by Hope and Fraser

Budgets also enable the measurement of actual financial operations against a forecast and establish the costs constraints of a project, operation and program (Daum 2001, p. 21). Budgets have been used as tools for aiding the planning of actual operations by ensuring managers consider changes in their environment. Additionally, budgets enable managers to outline steps and measures for ensuring the organization meets it objectives. Budgets crucially help managers to examine the relationships between the different departments and their own operations. Most importantly, budgets control resources, and help in communicating organizational plans within the different settings (Drury 2007, p. 31). It is equally crucial to mention that budgets motivate managers to work towards the achievement of the organization’s objectives, provide visibility of the organization’s performance, and help when evaluating the performance of managers. Recently, budgets and budgeting processes have faced immense criticism consequently attract publicity. Critics to budgets and budgeting note that budgets provide barriers to successful management and utilization of organizational resources. According to these critics, budgets influence managers and employees in counterproductive ways. ...
Download paper

Summary

Budgeting Name Institution Budgeting The Budget Is a Tool of Repression Rather Than Innovation A budget refers to a financial tool or plan that lists all planned revenues and expenses. A budget functions as a plan for spending, borrowing, saving, and it is an essential tool for microeconomics…
Author : ucrist

Related Essays

Essay on budget deficit
5 pages (1255 words) Essay
Budget Analysis
5 pages (1255 words) Essay
Budget Finance Paper
9 pages (2259 words) Research Paper
Healthcare Budget
5 pages (1255 words) Term Paper
budget
5 pages (1255 words) Assignment
Has the budget outlived its usefulness in the 21st century?
8 pages (2008 words) Essay
critically evaluate budgeting as a tool for planning and control.
5 pages (1255 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!