Budgets are the driving force behind all organizations

Question

Budgets are the driving force behind all organizations. Whether a manufacturing organization, or a service organization such as a medical or public accounting firm, budgets are used not only for planning purposes but also for performance monitoring and evaluation of areas within an organization.

More than likely, you are often required to work with budgets within your organization. Using the module reading and the Argosy

University online library resources, research budgets including multiple budgets.

Respond to the following:

Describe in detail the budgets that you work with.

In your description, what was the objective of the budget i.e., to motivate employees or control costs? (A budget could have more than

one objective.) Was the use of the budget successful in achieving the objective?

Based on the effectiveness of the budget, what recommendations would you suggest to improve the communication and/or utilization of

the budget(s)?

Assume your organization has multiple budgets and you are to work with these. Explain how these budgets should be linked together.

Answer 1

Consider the following statements and on behalf of the proper reading, respond to the following questions. Budgets are the driving forces at the back of all organizations. Whether a manufacturing organization, or a service organization like a medical or public accounting firm, budgets are employed not only for planning purposes however as well for performance monitoring and assessment of areas within the organization. 1) Illustrate in detail the budgets which you work with. 2) In your Explanation, what was the aim of the budget that is, to encourage employees or control costs? (A budget could encompass more than one objective.) Determine use of the budget successful in accomplishing the objective? 3) On the basis of the efficiency of the budget, what proposals would you recommend to enhance the communication and/or utilization of the budget(s)? 4) Suppose your organization consists of multiple budgets and you are to work with such. Describe how budgets must be linked altogether.