Budgeting for Planning and Control
Careful planning, whether formal or informal, is vital to the health of any organization. Business managers must know their resource capabilities and have a plan that shows how those resources will be used. In this chapter, the basics of budgeting are discussed, and traditional master budgets are developed. Flexible and activity-based budgeting are also presented, along with extensive discussion of the behavioral aspects of budgeting and its use in control.
