![]() ![]() The meeting of this objective can then be set out in the budget by aiming for a percentage increase in sales and perhaps the cutting of various costs. For example, a private company's objectives may be to maximise profit. In the public sector, the budgeting process can be even more difficult, since the objectives of the organisation are more difficult to define in a quantifiable way than the objectives of a private company. It is often an arduous process, however, and often strikes dread in the hearts of those involved in budget preparation. The budgeting process is an essential component of management control systems, as it provides a system of planning, coordination and control for management.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |