Business Management
Two different questions: 1 paragraph for each
1. How are budgets useful in the planning of a business? Discuss one type of budget presented in the lecture and explain how that budget contributes to the planning process.
Book information: Managerial Accounting- Jiambalvo, James (2013, 5th Edition) John Wiley & Sons, Inc. ISBN 978-1-118-07876-1. Chapters 9 and 10 (Please make sure you can access the book before biding)
2. What is zero-based budgeting? How can this type of budgeting assist in the planning process? What are some disadvantages of zero-based budgeting?https://books.google.co.ke/books?id=8i0GdO5yGskC&printsec=frontcover&dq=Book+information:++Managerial+Accounting-+Jiambalvo,+James+%282013,+5th+Edition%29+John+Wiley+%26+Sons,+Inc.+ISBN+978-1-118-07876-1.+Chapters+9+and+10&hl=en&sa=X&redir_esc=y#v=onepage&q&f=false
Answer Preview
Setting up a budget is an important aspect in any organization as its effective in proper planning and helps in avoiding wasteful spending that would otherwise hinder the achievement of the intended goals and objectives. When a company is effective in budgeting, usually it will be important to plan due to the following reason. The first thing is that, Through budgeting…
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