This website uses cookies to ensure you have the best experience. Learn more

Budgets Fulfill A Number Of Roles In The Management Of Organizations. Identify The Principal Such Roles And Comment On The Compatibility Of These Differing Roles.

1035 words - 4 pages

IntroductionThe main responsibility of manager is planning for the future by deciding what should be done and how it will be achieved. Budget is such a formalized system of planning, forecasting, monitoring and controlling the use of resources which help the managers to achieve organization's objectives both in public sector and private sector. Budgets fulfill a number of roles in the management of organizations and different roles may cause some conflicts. Here, we will identify the principal roles of budgets and have a briefly comment on the compatibility of these differing roles.Principal RolesAccording to Emmanuel et al. (1990), there are five main roles for budgets: a system of authorization; a means of forecasting and planning; a channel of communication and coordination; a motivational device; a means of performance evaluation and control, as well as of providing a basis for decision making.The first main role of budgets is authorization which means within the final approved budget management could use the resources on specific activities and without keep asking for permission to spend. However, the degree of authorization is a big issue to the top management. Inappropriate authorization may harm to the organization. Overspending may cause the closure of the business unit.The second role is forecasting and planning. Forecasting predicts the event which the organization has little or no control on it while planning is associated with forecasting and other information of the organization try to shape the future by alerting those factors that controllable in the light of available forecast. For example, a business will forecast sales and production, then use cost card data to estimate labor. Planning will focus on important resources of the organization which include money, management, manpower, material, markets and so on. Because there are too much uncertain factors of forecasting, you should aware that forecasting sometime deliberately distorted. For instance, the sales department may overstate the sales volume when forecasting for the coming period. The reason they perform in that way is not only because this may make the department looks good but also help them to get more resources. They may say,' we are going to sale more volumes, we need more staffs.' Such action may seriously influence the accuracy of the planning.The third role is a channel of communication and coordination. Since budgets need a lot of information from different departments, no one could prepare all the budgets singly. It's a good channel for people to communicate. In the process of preparation, the representatives from each department are comprised to prepare the budget. The information which collected from each department will be discussed and clarified. Coordination within the different departments will not only help the business ensure that the supply of each of its resource is appropriated and balanced but also help to ensure that all the departments have the...

Find Another Essay On Budgets fulfill a number of roles in the management of organizations. Identify the principal such roles and comment on the compatibility of these differing roles.

The Roles And Responsibilities of A Nurse

1601 words - 6 pages The nursing profession has changed drastically over time. The roles and responsibilities that nurses take on have increased and become far more complicated. Nurses are managers, leaders, supervisors and have become experts in many areas of care. Every day nurses are faced with the task of improving and strengthening professional leadership within their work environment. Managing good quality and eliminating risk is the major challenge

Identify And Evaluate The Roles Of The Prosecution And Defense In A Criminal Trial. Identify & Discuss The Sentencing Powers, Available To A Judge In A Specific Criminal Case

1693 words - 7 pages beyond responsible doubt that a crime has been committed before a conviction can be secured. It is also their responsibility to test all evidence for reliability and admissibility prior to a criminal trial. However, in the past the CPS have come under heavy criticism by the Police and more notably the Guildhall Report (1999) for the large number of cases being dropped or acquitted by Crown Courts due to poor case management. These criticisms have lead

The Changing Roles of Management Accoutants

1729 words - 7 pages information providers rather participators in the decision-making. Therefore this advancement in technology requires the management accountant to modify their roles and gain some extra skills. 2.2 Increase in competition Business world has seen exceptional rise in competition different strategies and steps are taken to respond and sustain in the market. The major focus of the organizations has been on increasing the production and quality of the

The Roles of Microbiota on Immunological Function

1000 words - 4 pages pathogenic used to be the norm, years of research have demonstrated that these bacteria play a vital role in the function of the human adaptive immune system. Information on the organization and function of the adaptive immune system in the gut is well understood, but how this system relates to the ever-changing microbiota has lagged. There remains a question of whether immune system dysfunction is a direct result of the adaptation of humans to

The Roles Of The Husband And Wife

534 words - 2 pages wife and being a wife implies additional duties. After marriage, the woman becomes a mother and being a mother implies more and more duties. After marriage, the woman becomes responsible for housekeeping, which means more duties as well. Are all these duties not enough for a woman' Islam puts high emphasis on the roles of the married woman as a wife, a mother, and a housewife. In Islam, it is held that such roles are worthy for a woman to devote

The Conflicting Roles of Teachers

1509 words - 6 pages foregoing observations, it seems safe to agree that the teacher in the Jamaican society, does face conflicting expectations about the roles he or she should play.When parents send their children to school, they expect them to be a part of a pleasant and safe learning environment. However, this has not always been the case, especially since recently. The onus is therefore on the teachers to protect them. Recently, there has been an increase in the number

The Changing Roles of Women

2037 words - 8 pages believed women could not do or would allow them to undertake in their unenlightened thinking of women and their respective roles. Women of this time had their lives shaped by extraordinary events such as political and economic upheavals, religious conflict, and intellectual transformation. (Mack 1) During this time middle class women gained a certain degree of intellectual autonomy during this century. With extra time on hands, the first time

The Influence of Gender Roles

846 words - 4 pages and the basic duties of housewives. These two things were necessary in order to be seen as a respectful woman in that society. This idea shows that Kincaid uses the character of his story “Girl” to demonstrate the influence that time and place had on gender roles. Kincaid uses the strong character of the mother to demonstrate the influence that time and place have on gender roles, and he shows how society influences the way people live and raise

The Roles of Central Banks

1766 words - 8 pages perfection, the test of the good management is whether they are able to grow by overcoming obstacles, rather than get blogged down in damage control. We have to keep in mind that the reputation of every organization is a very valuable and at the same time fragile asset. Reference: Technical Committee of the International Organization of Securities Commission. (February 2005). Principles on Outsourcing. Available: http://www.cmvm.pt/en

Roles of the Australian QS

1755 words - 7 pages tendering expert panel, risk and quality management, facility management, on-site cost control management, and customer value management. Furthermore, even this profession can be found working in other industries such as mining, petroleum, and transportation sectors. This is just a result of this profession in changing for meeting industrial changes. For future development, firstly, the quantity surveyor should remain and develop persistently

The Origin of Gender Roles

5218 words - 21 pages domestic duties. Men are cursed to be “toil of the earth,” and to take on the responsibility of obtaining food for supporting the family that unit. This is a crucial section in the Bible because once God assigns gender roles, society assumes these “roles” indicate the superior sex. Traditionalists refute this theory, and support the “equal in being but different in function” explanatory device (Groothuis 42). They assert that God created man and

Similar Essays

The Roles Of Human Resource Management In Organizations

714 words - 3 pages asset to any company and hard to find or replace. The Human Resource Department has many jobs to keep under control, and some of the most important jobs in the company. It is this department’s task to keep up on the federal laws and taxes that affect the organization as well as the other managerial tasks that are needed to be achieved in order to meet that company’s goal (Entrepreneur, 2014). This competition between organizations is at such a

Roles Of The Synagogue Essay

2027 words - 8 pages children. In the Northwood and Pinner Liberal Synagogue, similar educational activities such as cheder take place. There is also a 'crash course' on offer for adults wanting to learn Hebrew. A Jewish nursery school known as 'Gan Etz Chayim' and parent toddler groups are also available. Overseas tours take place to places of Jewish interest, which helps with the study of Judaism as a whole. The Synagogue is known as House

The Roles Of Management And Organization In The Mining Industry

1201 words - 5 pages TASK 1 Organisation and management plays a vital role in mining industry .organisation means how to organise the industry .if there is best organisation then industry will run very well .on the other hand management is a also important part of industry. In management we know about the how to manage the company or industry. Task two: Efficiency and effectiveness means work should be done in proper way like best use of resources and time. It is

The Roles And Responsibilities Of A Teacher

1526 words - 7 pages diversity policy as a teacher, you need to treat your learners fairly and ensure there is always an equality of opportunity in participating in the learning process. In terms of lesson planning, teaching strategies, the way you engage with the students, the assessment process, and the learning styles of the students and so on. Francis M(2013) stated ‘Its important to recognise the differences in the learners we teach, as these may influence