Efficient and effective use of limited resources is the key to success in today’s economy. Assisting in the
budget planning process is a major task for managerial accountants.
All organizations have limited resources, but whom in the organization should be involved in the budgeting
process?
Discuss the pros and cons of the two basic philosophies that organizations should follow to plan and develop
their budgets.
Discuss the benefits of the budgeting process
Discuss the potential risks of overly aggressive budget goals
Sample Solution
