A budget is an important tool for managerial planning and control. With reference to the above statement, explain five ways in which budgets could be of importance...

      

A budget is an important tool for managerial planning and control.
With reference to the above statement, explain five ways in which budgets could be of
importance to a manager.

  

Answers


Kavungya
- It helps the manager to coordinate activities necessary to achieve the organisation
objectives.
- Helps the manager in performance evaluation, which is a basis of comparison against
actual performance especially for rewarding purpose.
- Assist managers in establishing a system of control or a guide.
- Budgets are important to managers as they provide basis of assigning responsibilities
- Planning tool, that is budgets are used by managers to strategies and develop future plans.
Kavungya answered the question on May 18, 2019 at 07:55


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