Describe the key stages of budgetary process, (b) Critically evaluate, Essay

Describe the key stages of budgetary process, (b) Critically evaluate, referring to the research findings the social significance of budgeting in modern organisations - Essay Example Budgeting process can be done for several reasons in an organization like planning, communication, coordination, motivation, performance evaluation and controlling process. Budgets can be of various types like short term budgets which are done for a month, a quarter or for a year. Operational control budgets are mainly done for a specific operation and the duration of this type of budget is a week or maximum a month. The most long term budget is known as capital budget which is done by the company for a period of more than one year and it can be extended to ten years and it determines that whether a company should proceed for a long term investment or not . Budgets can also be differentiated as sales budget which estimates the amount of future sales revenue and create a target for sales, production budget which estimates the number of output that should be produced to meet they sales target. Marketing budgets help to estimate the amount which is necessary for advertising and promotio nal activities to place the product in the market (Collier, 2002, pp. 207-208). Budgets are mainly based on the standard costing method for a certain level of production and sales. It should be prepared by an experienced accountant. A budget should describe the objective of the budget and the steps that are involved in the process of budget. There are several steps involved in the budgeting process which area s follows- Communication about the guidelines and policies with those people who making the budget is very important because e many decisions that may affect the budget year have been considered previously in the long term planning process which is the starting point for the annual budget. Thus the top level managers need to communicate the effect of the policy to the people who are responsible for the preparation of the budget of current year. The effect of the policy

Firm's Stance on Women Driving Letter Assignment

Firm's Stance on Women Driving Letter - Assignment Example yota and Lexus) that many citizens of the kingdom would purchase and own our cars, as this would see our business flourish and profit margins soar even higher. Indeed this remains the desire and objective of any business in any part of the world, whether small scale or multinational as ours – to grow. But in as much as we want the very best for our company, we deeply appreciate the diversity of the human culture and the preferences that arise therein. We do not take part in any promotions that serve or disservice a particular belief or established system of doing things but are rather a humble business in competition with other similar enterprises that produce motor vehicle - with a solemn aim of bettering the lives of citizens across the world and taking motor vehicle comfort to a whole new extreme. Since the inception of the company, we have prided ourselves in equitable service for all customers who walk through our doors seeking to buy our products. We do not have any restrictions whatsoever on whom we conduct business dealings with as we serve minus any bias, regardless of religion, gender, and race and so on. We believe the question about whether women should drive or not is more of a matter of faith and religion. It is not in our power to question such things as religion. Those who subscribe to the belief that women must not drive for one reason or another are held in our highest esteems as are those who do not. True to our claim of unbiased respect for all beliefs and leanings, you are welcome to sometime conduct a survey of our key stakeholders and discover for yourselves a rich mix of people from both sides of the debate who more than anything simply wants to feed their respective