budgeting

 budgeting

Discussion Question for MGMT 312 Managerial Accounting

The Module 6 discussion topic is budgeting. Identify a “real life” pro and con of budgeting. Ideally, use an aviation example or an example from your personal experience.

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Budgeting is the process of creating detailed financial statements which illustrate the estimate of one’s resource allocation and utilization over a given period of time. It is an essential process in forecasting as it allows prioritizing of needs based on the resources available. It can be used to plan for various forms of resources; human, fiscal, physical and natural…

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