Budgeting for Financial Control, Management, and Planning
Discussion topic should be at least 350 words and should reflect the fact that you have completed the Reading and activities. Use your words wisely so that the posting has substance and includes examples and explanations. Best practice is to include citations and a reference list.
Budgeting for Financial Control, Management, and Planning
Explain the concept of financial control. Describe how the financial control purposes of budgeting deals with the relationship between revenues (inputs) and expenses (activities).
Identify the three major models of the budgetary process. Describe the similarities and the differences within the models.
What are the three principal purposes of budgeting? What are the three major corresponding budgeting systems? Describe the similarities and the differences amongst the three.
In your opinion should small nonprofit organizations hire outside consultants to help them with budgeting issues or should they develop their expertise in house? Use your text or other professional resources to support your answer.
Designing and Managing Programs: An Effectiveness-Based Approach.
Chapter 12: “Budgeting for Financial Control, Management, and Planning”
In Chapter 12 of your text, you will review the principle purposes of budgeting. You will also get a better understanding of the major models of budgeting. You will also be introduced to major budgeting systems.
Answer preview
Financial control as an operation of the budgeting process regulates expenses not to exceed revenue for the agency and programs. The agency and program resources are only disbursed to carry out individual activities through clearly defined policies, procedures, and processes. For example, this process includes policy by the agency on the procedures for recruitment and wage increments (Kettner, Moroney, & Martin, 2012). To ensure the budgets comply with the specific plans, goals, and objectives they are often passed through evaluation for approval by the governing board or legal authority. The financial control is achieved through a formal process in which the lea…
(400 words)