Contents

• Executive Summary 1
• Introduction – Budget and its importance in managing an organization 3
• An excellent budget process has the ability to convert objectives and goals into data 5
• Finding resources to implement the budget calls for extensive use of human resources and involves correct perceptions of individual roles while communication plays an important part in the entire process 9
• Differences between the communication flows when the budgeting process is imposed or participatory 10
• Conclusion 11
• References 12

Description

This assignment is based on the following requirement –
The test of an excellent budget process is the ability to convert objectives and goals into data. The budget serves as a blueprint for business operations. The evaluation of actual results with the budget forms the basis for effective control.
Finding the resources to implement the budget calls for extensive use of human resources and involves correct perceptions of individual roles and communication plays an important role in budget operations whether it is imposed or participatory.
Critically evaluate both of the statement above and describe the differences between the communication flows when the budgeting process is imposed or participatory.