Budgeting Manager Term Paper

Open, View, and/or
Download this Document

Total Length: 798 words ( 3 double-spaced pages)

Total Sources: 1+

Page 1 of 3

Functions That Budgeting Accounts for Is the Planning Function

We will be arguing for the importance of the planning function in the overall budgeting activity and will be arguing for the many ways the budgeting planning function is coordinating with the company's strategic planning.

First of all, the planning function in terms of budgeting refers to the planning activities that the company, starting with the financial department, needs to (1) determine what the company's long-term strategy is, (2) determine what projects bring most added value to the company and (3) determine what priority these projects should have.

Let's refer to each of these steps in part and determine how they impact the budgeting strategy of a company. The long-term strategy for a company is essential in determining the overall objective of a company. For the long run, this may be increasing the volume of sales or increasing the market share or promoting the company's image. In any case, these differ in terms of the projects they will imply and the ways they will be affecting the budgeting strategy.

For example, increasing sales will perhaps only include increasing spending on advertising and the promotion budget, while promoting the company's image may include costly promotion campaigns that will have a significant impact on the company's budgeting management.

Stuck Writing Your "Budgeting Manager" Term Paper?

View All Our Example Budgeting Manager Term Paper

Have A Custom Example Essay Written



The second issue is a project portfolio management issue. The economic theory tells us that the resources are always limited, while the needs are not. Applied in this particular case, this means that we are always likely to have a greater number of projects we will wish to perform than the financial resources the company will have at a certain point.

This is where the selection issue, corroborated with the budgeting strategy comes in the game. The top management, working with the financial department, will need to establish which are the projects that bring highest added-value to the company and spend the company's budget on those alone.

The selection phase can only come hand in hand with a proper planning of the budgeting activity. On one hand, we have the projects the company wishes to perform, on the other, we have the budgeting restrictions. In terms of budgeting planning, the company and the top management needs to ensure that projects deriving from the current selection will also have sources of financing. An example will properly elucidate this perspective.

We will simply take….....

Show More ⇣

     Open the full completed essay and source list


OR

     Order a one-of-a-kind custom essay on this topic


sample essay writing service

Cite This Resource:

Latest APA Format (6th edition)

Copy Reference
"Budgeting Manager" (2005, July 19) Retrieved June 17, 2025, from
https://www.aceyourpaper.com/essays/budgeting-manager-66931

Latest MLA Format (8th edition)

Copy Reference
"Budgeting Manager" 19 July 2005. Web.17 June. 2025. <
https://www.aceyourpaper.com/essays/budgeting-manager-66931>

Latest Chicago Format (16th edition)

Copy Reference
"Budgeting Manager", 19 July 2005, Accessed.17 June. 2025,
https://www.aceyourpaper.com/essays/budgeting-manager-66931
   

Open, View, and/or
Download this Document
order custom essay example