- Planning activities is a necessary activity which assists
organizations to
focus on future operations
-Budgeting is important in coordinating operations in an organization
from different departments
-Budgeting assists in communicating the intended operations of the
organization to interested parties
-Budgets set standards of performance for the organization which the
managers strive to achieve
-Budgets motivate the managers as they work to achieve the target
-Budgets helps to control expenditure as those implementing it are
expected to operate within its limit
-It helps the business to identify its areas of expenditure
-A well planned budget can be used as a means of attracting external
finances
-It helps the business estimate the revenue
Wincate 1 answered the question on September 21, 2017 at 14:07
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