Budgeting Processes
This concept describes purposes and uses of budgets in organisations and identifies stages of the 'traditional' budgeting process. It also describes some of the benefits of effective budgeting and assesses some of its limitations.
Technique Overview
Budgeting Processes Definition
The budgeting process can be defined as a systematic business activity that encompasses the development, implementation and evaluation of a plan for the provision of services and capital assets including fixed resources, such as money or time, during a given period to achieve desired financial targets (Tracy, 2008). In other words, budgeting process is the allocation of capital which is then used in the proper way to achieve the set or designated targets of the firm.
Budgeting Processes Description *
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Business Evidence
Strengths, weaknesses and examples of Budgeting Processes *
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Business Application
Implementation, success factors and measures of Budgeting Processes *
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Professional Tools
Budgeting Processes videos and downloads *
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Further Reading
Budgeting Processes web and print resources *
Budgeting Processes references (4 of up to 20) *
- Alesina, A.F., and Perotti, R. (1999) Budget Deficits and Budget Institutions. In J.M. Poterba (Ed.), Fiscal Institutions and Fiscal Performance, University of Chicago Press.
- Barrett, R. (2007) Planning and Budgeting for the Agile Enterprise: A Driver-based Budgeting Toolkit. Elsevier Ltd., Burlington, MA, USA.
- Chandar, N., and Miranti, P.J. (2009) Integrating Accounting and Statistics: Forecasting, Budgeting and Production Planning at the American Telephone and Telegraph Company during the 1920s. Accounting and Business Research, Vol. 39(4), pp. 373-395.
- Chander, A.D., Jr. (1977) The Visible Hand: The Managerial Revolution in American Business. Cambridge MA: Harvard University Press.
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