Question

What responsibility do you have for budgeting? What budgeting method do you use?

Answer 1

Project budgeting is extremely important. Not only is a budget a planning tool, but a cotroling tool as well. A rolling and flexible budget embodies objectives, and provides a means of comparing actual results against desired outcomes.It is also important for responsibility accounting. That is, responsible personnel are held accountable, and should explain rhe variances between the budgeted figures and the actual figures.

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