(Discussion of uses of budgeting) Rex, a budget officer, conducted a class for nonaccounting managers and program...

Question:

(Discussion of uses of budgeting)

Rex, a budget officer, conducted a class for nonaccounting managers and program directors on the subject of budgets. Rex began the class discussion by asking, “What are some of the uses of a budget?” One manager replied, “Planning.” Another said, “Evaluating performance.” Still another suggested, “Coordinating activities.” “What about implementing plans?”
inquired another. “Or communicating them?” added still another. “Don’t forget motivation,” one manager warned from the rear of the room. “I’m on the school board,” commented another, “and we use it to authorize actions.”
Finally, one manager asked, “Can budgets do all that?” “Yes,” Rex responded, “all that and more.”
Required: 1. Define the term budget.
2. Select any four of the uses suggested by the managers and explain how a budget might accomplish each of the four uses selected.


Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Introduction To Government And Not For Profit Accounting

ISBN: 9780130464149

5th Edition

Authors: Martin Ives, Joseph R. Razek, Gordon A. Hosch

Question Posted: