Budgetary Control Budgets Essay

Pages: 6 (2021 words)  ·  Style: Harvard  ·  Bibliography Sources: 12  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business

SAMPLE EXCERPT . . .
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For so many organizations, the prospect of operating without a budget is as far from reality as anything could possibly be, and it is because of this fact that nearly every company or organization in existence operates under some sort of budget and control method. However, despite the wide use of budgets within organizational set-up and day-to-day procedures, a budget holds the capacity to be disadvantageous if handled incorrectly in certain cases. For example, a budget promotes manager's gamesmanship, a budget may reward managers who set modest goals and penalize those who set ambitious goals that are missed (Accounting Financial, 2012, pp.1). Further, with poor management, there is a possibility that the budgeting process may be filled with judgment and subjectivity, as budgets to not necessarily consider employee work quality or customer service. In this case, budgets have the capacity to spark departmental conflict that arises due to poor or misguided resource allocation.

While limitations such as these continue to exist within certain organizations, the key to eliminating these limitations in favor of reaping only advantageous results from budgeting comes from the use of the aforementioned key factors to successful budgets, all of with begins with solid managerial foundations.

References

Accounting Financial. 2012. Advantages and Disadvantages of Budgets. Web. Retrieved

from: http://accounting-financial-tax.com/2008/07/advantages-and-disadvantages-of-budgets-keuntungan-dan-kerugian-dari-anggaran / [Accessed on 28 March 2012].

Accounting for Management. 2012. Master Budget. Web. Retrieved from:

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http://www.accountingformanagement.com/the_master_budget.htm [Accessed on 30 March 2012].

Bass, B. 2012. Advantages and Disadvantages of Forecasting Methods of Production and Operations Management. Demand Media. Web. Retrieved from: http://smallbusiness.chron.com/advantages-disadvantages-forecasting-methods-production-operations-management-19309.html [Accessed on 30 March 2012].

Bianca, A. 2010. Definition of a Strategic Budget. Web. Retrieved from:

Essay on Budgetary Control Budgets and Budgetary Assignment

http://www.ehow.com/info_7969843_definition-strategic-budget.html [Accessed on 30 March 2012].

Essortment. 2012. What are the advantages of a long-term budget vs. A short-term budget? Web. Retrieved from: http://www.essortment.com/advantages-long-term-budget-vs.-short-term-budget-19136.html [Accessed on 30 March 2012].

FAO Corporate Document Repository. 2010. Budgetary Control. UN Department of Agriculture and Consumer Protection. Web. Retrieved from: http://www.fao.org/docrep/W4343E/w4343e05.htm#budgetary control methods [Accessed on 28 March 2012].

Financial Times Lexicon. 2012. Budgetary Accounting. Lexicon. Web. Retrieved from:

http://lexicon.ft.com/Term?term=budgetary-accounting [Accessed on 30 March 2012].

Investopedia. 2012. Capital Budgets. Investopedia Online. Web. Retrieved from:

http://www.investopedia.com/terms/c/capitalbudgeting.asp [Accessed on 30 March 2012].

Master Minds. 2012. Budgetary Control. Master Minds: Quality Education. Web.

Retrieved from: http://www.gntmasterminds.com/BUDGETARY.pdf [Accessed on 28 March 2012].

Morgan, R. 2012. What are the four benefits of an operating budget. eHow. Web.

Retrieved from: http://www.ehow.com/info_7749884_four-benefits-operating-budget.html [Accessed on 30 March 2012].

Myers, R. 2001. Budgets on a Roll. Journal of Accountancy. December 2001. Web.

Retrieved from: http://www.journalofaccountancy.com/Issues/2001/Dec / BudgetsOnARoll.htm [Accessed on 30 March 2012].

Nayab, N. 2011. Streamline you finances by preparing a cash budget. Bright Hub. Web.

Retrieved from: http://www.brighthub.com/office/finance/articles/119670.aspx [Accessed on 30 March 2012].

Penning, A. 2009. Budgeting and Budgetary Control. London, UK: Osborne Books.

Web. Retrieved from: http://www.osbornebooks.co.uk/files/af_as_chapter _19_1.pdf [Accessed on 28 March 2012].

Reverso. 2012. Budgetary Policy. Dictionary. Web. Retrieved from:

http://dictionary.reverso.net/english-cobuild/budgetary%20policy [Accessed on 30 March 2012]. [END OF PREVIEW] . . . READ MORE

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