Get premium membership and access questions with answers, video lessons as well as revision papers.
Got a question or eager to learn? Discover limitless learning on WhatsApp now - Start Now!

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


Next: Highlight six types of controls instituted by different organisations.
Previous: Information systems contribute significantly to the efficient management of an organisation. i. Highlight the requirements of an effective information system in an organisation. ii. Briefly summarise how...

View More ATD Principles of Management Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions