What is Budgeting?

How does it help to management in taking the decisions?

Questions by krishnahr13   answers by krishnahr13

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kothari625101  

  • Member Since Jul-2009 | Jul 25th, 2009

It is forecasting of expenses/income of company which can made by our past records or by some assumption.

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kumudkr

  • Nov 17th, 2009
 

Budget is a numeric representation of the manager’s plans for a specified period of time. It is commonly used by business firms, governmental agencies, non-profit organizations and even households. While there is considerable variation in the scope, degree of formality and level of sophistication applied to budgeting, most of the well managed business firms use budget which is a comprehensive and coordinated plan for the operations and resources of the firm. A Budget can serve as an extremely useful tool for all managers.  Communication, Co-ordination, Measurement of Sucess, Motivation.

juntupallyraghu

  • Jul 15th, 2011
 

The process of planning all flows of financial resources into, the company during some specified future period.It includes providing for the detailed allocation of expected available resources to projects, functions, responsibilities,etc..

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Sonu kumar

  • Aug 23rd, 2011
 

there are two types of Budgeting 1. long term 2 short term.

1. long term budgeting - long term budgeting is done for long term objective for example projected cost construction of a plant.
2. short term budgeting - it is done for short term expenditure and income so that we can operate our organization smoothly.

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Bijay Kumar Das

  • Sep 4th, 2011
 

Budgeting has a vital role in an organization, One can forecast the future performance of the unit through budgeting, it helps in to forecast the future requirements & the way to meet it.

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kapil

  • Oct 19th, 2011
 

As per your statement >>.It is forecasting of expenses/income of company which can made by our past records or by some assumption.


we can also present this answer like that It`s to predict/forecasting about of tax/overhead/expenses/income of the establishment or factory which can be made by our past MIS/records and competitors.

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paresh

  • Oct 19th, 2011
 

decision depends on the budget.

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sowmya

  • Oct 29th, 2011
 

It is nothing but estimating future based on past

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