Understanding of Budgets

Introduction of budgeting (definition, process, varying roles) Budgeting is the key to good management. This is true for individuals, small family-owned companies, new high-technology companies, large corporations, government agencies, and nonprofit organisations. Managers and others in positions of responsibility must plan on a daily, weekly, monthly or annual basis if they are to operate efficiently. Because of the importance of money to businesses, and because of the fact that it is the common denominator in …

…Managerial Accounting and Finance. Mars Business Associates Ltd. (11)<Tab/>T Lucey. (1996: 4th Ed.). Management Accounting. London: DP Publications (12)<Tab/>Wayne J. Morse, James R. Davis & Al L. Hartgraves. (1991: 3rd Ed.). Management Accounting. Addison-Wesley. (13)<Tab/>http://jan.ucc.nau.edu/~ha355-c/ha355/class/statement/budget/ (14)<Tab/>http://www.fao.org/docrep/W4343E/w4343e05.htm#TopOfPage