As Bhimany et Al. stated in 2008 “ A budget is a quantitative look of proposed program of action by direction for a future clip period and is an assistance to the coordination and execution of the program. It can cover both fiscal and non-financial facets of these programs and acts as a blue-print for the company to follow in the extroverted period ” . […]

In Business terms if we talk about budgeting it is the ability of a manager to plan and allocate the available funds to different departments of the organization. This enables the organization to efficiently allocate the funds to more productive areas and cut back expenses from the less productive areas. This includes utilization of assets to generate income and public relationships. Normally budgeting is done […]

Budgeting as system of organization control sounds not something controversial since even from the smallest organization, one can readily see the need to estimate the level of revenues and expenses and the related amount of assets or resources that may be used to attained a desired. Even from an individual viewpoint, it is normal for a person to know how much he or she is […]

Manpower planning is also important because it generates mechanisms that educate the employees of the banking institutions in the UAE (Yogesh 2009). The other importance of manpower planning for the nation is the fact that it fastens the process of economic development besides boosting the ability of the labor force to move geographically (Yogesh 2009). Similarly, it is through human resource planning that a smooth […]

BUDGETING IN CO OPERATIVES A budget is a statement about the allocation of money (income and expenditure) according to a set of priorities or a plan over a period of time. The advantages of having a budget and budgeting system are as follows: ¦ It ensures the plans and ultimately the objectives of the co-operative are realized; ¦ It provides a means to control expenditure […]

Introduction Planning is the basic managerial function. It helps in determining the course of action to be followed for achieving organizational goals. Budgeting is a course of planning for future course of action. Executive summary Meaning of a Budget www. questia.com , Alagiah, R. 2006 pages (6 and 7) A budget is the monetary or /and quantitative expression of business plans and policies to be […]

Budgeting lies at the foundation of every financial plan. It doesn’t matter if you’re living paycheck to paycheck or earning six-figures a year, you need to know where your money is going if you want to have a handle on your finances. Unlike what you might believe, budgeting isn’t all about restricting what you spend money on and cutting out all the fun in your […]

All organizational Managers have to do certain management functions such as planning, control, coordination, staffing, motivation, leading, communication and organizing. These functions differ from organization to organization due to different organizational cultures, nature of activities and its complexity, size, staff profile in terms of values and skills, internal political activity its intensity and is level external environment in which they exist in terms of social, […]

In the book “Beyond Budgeting,” author Jeremy Hope gave an altogether different conceptualization of the significance of budgeting on effective management. In it, he emphasized the need for better and well-thought out budgeting plans in order not to sacrifice the management decisions and ultimately, the efficient performance of a company or organization. The author aimed to create a strong argument illustrating this objective-that is, the […]

Budgeting is one of the fundamental concepts in managing a business and it is often up to the budgeting policies that the managers decides upon that will conclude where the company is going to make it in the industry or not. The budgeting policy a company decides upon will show the top management team where the money is being spent and, even more importantly, it […]