Define 'budget' and 'budgeting'. Discuss its utility and limitations.
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It is a financial plan for how an organization will receive and spend money. The utility is that it allows performance evaluation of the managers while its limitation is that it does not give the employee the morale to work.
budget is really just a plan for how to spend money. Here are some steps to follow to put together a simple budget: Keep track of everything you spend for a month or more
budget is really just a plan for how to spend money. Here are some steps to follow to put together a simple budget: Keep track of everything you spend for a month or more
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