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Why "Budgeting" is important for an Organization ?

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تم إضافة السؤال من قبل Khaja Moinuddin , Group Assistant Financial Controller , Confidential
تاريخ النشر: 2014/02/10
Ashraf     CMA    CIA
من قبل Ashraf CMA CIA , group financial control manager , retail & trading group

Budgeting is used as:1- A goal the business is setting it to achieve.2- A control tool to compare with what the business had set of goals and in case of variance, a corrective measures should be taken to align with road to the goals achievement. I hope this help explan the subject matter.

Khaja Moinuddin
من قبل Khaja Moinuddin , Group Assistant Financial Controller , Confidential

Budgeting is important in an organisation because it helps in setting standards of performance, it plays a critical role in strategic planning and it provides a tool to measure organisation results. Budgeting is usually the responsibility of the finance department.

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