Question

One Managerial Topic that virtually all of you will need to address each year is the Budgeting and Profit Planning activities of the entity with whom you work. The old adage that “if you expect nothing you get nothing” is often quite true. Spend a little time thinking about your experiences in dealing with budgeting activities in your job experience. If you have had very few job-related budgeting activities, think about the material that you have read in this topic area. Share some of your thoughts about the budgeting process, its challenges, its shortcomings, its successes, or any other characteristics that you want to share.

Answer 1

Cordova Learning Series - Maths Lab Manual...... Budgeting Process Budgeting in a process whereby future income and expenditure are decided in order to extreamline the expenditure Process. Budgeting is done in andey to keep track of Expenditure and income. It serves as a monitoring & Controlling method in order to manage the financial interest of the budness. It begins by deciding upon the financial goals according to which the budget will be made. Budgeting is very crucial for any business Entity. without a proper budget, a business Con never keep track of How much it has earned and How much it has spent. challenges in Budgeting 1. Inaccuracy z The larger a businest becomes, the movie Challenging it is to pull in the right information 2) Time taking Bug Budgeting in time talking t O time is money, Adding to any other Budget difficulty you could possibly have is the fact that you simply must take time out of your busy schedule to put the budget together.

Cordova Learning Series - Maths Lab Manual Activity No.... 31 Expense allocations Budgeting allocating the right place. but in are wongly allocated all impacted, Date. to made for the expenges, for any clue Expenses the budgets are will " Characteristics of budgeting 17. It is framed in advance a future Plan of action Keeping an eye on 12). Id is objectives for future fenti perlod to be achieved. and is happed on 3). It is Prepared by the a for top financial and the Execution management Quandidadive statement of Policy formulate. ( 14. It is practical to implement 51. many people are involved in growing up this 16) Plexible enough to allow changes in the In vironment Teacher's Signature.....

Cordova Leaming Series Maths Lab Manual... Bulgeting success-> 2. know why you are budgeting. 2), have a specific & Concrete 3). Know how much you actually make 4. Have some accurate dlater when it comes to your spending , both monthly and towegularly. 57. Have checking & Saving accounts that have useful budgeting tools in corporated by default 6). Have a simple budgeting terl that you under Stand How to use start with pencil and Paper Be Mealistic Have Sed the some support from some very short Company / you Egily other college members. term goals that achieve