• Budgeting helps in determining the quality and quantity of services.
• It helps in estimating money to be received (income and expenditure). It is important to have an accurate focus to avoid budgetary deficit which would hinder achievement of institutional objectives.
• Budgeting is the basis of accounting. The auditors can use the budget to find out whether the system uses finances efficiently.
• It gives a comprehensive and equitable view of all services by analytically considering allocation of financial resources.
• A budget confers authority for expenditure.
• It helps in economic administration of an institution.
skilled writter answered the question on April 23, 2018 at 18:27
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