Budgeting For Profit In Management Planning
This study is now available at http://commons.und.edu/theses/4430
The managerial task of performing the requisite planning, organizing, and control of the various activities of an enterprise to meet the desired objectives has become increasingly difficult. This study explores the application and use of the business budget to assist management in this difficult task. The study seeks to isolate the basic considerations in planning, executing, and control in the budgeting process which must be considered if budgeting is to provide management with an effective tool to assist in profit planning and control.
This study reviews the demands and requirements of the management functions of planning, coordinating, and control. It then seeks to establish the contributions and assistance budgeting can provide management in the accomplishment of these functions, Then to insure that management is realizing the full potential of this valuable tool the basic considerations are reviewed.
While concluding that the budget is of significant value as a tool to assist management in accomplishing the desired objectives, the study indicates that the benefits derived reflect the care and effort the budgeting program receives. The potential of this valuable tool is in direct relationship to the application of the basic considerations.