This discussion has 3 parts:
Budgeting in any organization, whether it is for-profit, nonprofit, or even a governmental agency, is important for: income planning and monitoring; revenue versus expenses; resource management; and successful financial planning.
- Provide an example as to why these reasons are so important for organizations to budget.
- What are the types of budgets organizations can use? How are they different and why would a company choose one type over another?
- How can you apply what you will learn in this class to your personal and professional life?