Colorado State University Traditional Budgeting And Financial Planning Essay

User Generated

avy99

Business Finance

Colorado State University

Description

Opponents of the traditional budgeting process argue that the process has to serve too many purposes to be useful in any one particular discipline-allocating resources, financial planning, performance management, and setting operational targets. They also argue that because meeting budgets are often tied to compensation packages, there are often negotiations and biases during the budgeting process, and ethical dilemmas arise.

  • Counter these points with at least two of the value-added aspects of traditional budgeting for your response.

Your document should be 200-300 words and plus references.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: TRADITIONAL BUDGETING

TRADITIONAL BUDGETING

By (Name)

Course)

Professor

Institution

Date

1

TRADITIONAL BUDGETING

2

The budgeting process has frequently been an area of argument as there are strong views
against and for the process. Challengers of the budgeting process feel that the practice entails a
lot and serves too many roles like financial planning, establishing operational goals, and
allocating finances. However, there are several arguments against the budgeting process.
Supporters of it trust that the practice encourages harmonization and communication.
Considering Asogwa (2017, harmonization facilitates the balancing of all elements of production
and every departm...


Anonymous
Excellent! Definitely coming back for more study materials.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags