150 WordsAPA formatted referencesDue May 12 2:00 a.m.You are the manager of the XYZ Company. For the...

Question

150 WordsAPA formatted referencesDue May 12 2:00 a.m.You are the manager of the XYZ Company. For the first time in the company's 
history you plan to involve department managers and supervisors in the annual 
budgeting process. At an upcoming kick-off meeting, you want to make sure the 
supervisors and managers understand what budgeting is and most importantly 
why it is important for the firm's success.

Explain at least 3 reasons why budgeting is important to a firm.

Use examples to demonstrate each of your reasons.
In your own words, please post a response to the Discussion Board and 
comment on other postings. You will be graded on the quality of your 
postings.
The following grading guidelines will be used:

Grading Guidelines

60%

Explain at least 3 reasons why budgeting is important to a 
firm.

40%

Use examples to demonstrate each of your reasons.

David · Accepted Answer

Budgeting 
Budgeting is considered as an integral aspect of the business because of the following benefits 
availed from it. 
1. Limit Expenditure: Budgeting has the ability to control the money spent on operations. It 
reduces the money spent on waste activities by providing a fixed amount for every type 
of expenditure. For example, the amount to be spent on purchase of raw material is fixed. 
Now,

Grading Guidelines
60%	Explain at least 3 reasons why budgeting is important to a firm.
40%	Use examples to demonstrate each of your reasons.

150 WordsAPA formatted referencesDue May 12 2:00 a.m. You are the manager of the XYZ Company. For the first time in the company's history you plan to involve department managers and supervisors in the...

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