Discussion: Evaluating the Budgeting Process

I need help with a Accounting question. All explanations and answers will be used to help me learn.

To prepare for this Discussion, “Evaluating the Budgeting Process,” take a moment to think about your organization or an organization you are familiar with. Consider the importance of the budgeting process, forecasting, and strategic planning for informing how the organization operates with regard to decision making.

Prepare the following:

• Provide an evaluation of how forecasting, strategic planning, and budgeting processes impact your organization.
• Provide 2–3 examples from your professional experience in your current or former organization, or from your interview, to support your position. Be sure to include specific budgeting tools used by the organization.
• Identify the key stakeholders in the budgeting process at the organization and explain how they are involved in the processes.
• Explain how knowledge of forecasting, strategic planning, and budgeting processes might impact your decisions in the organization you currently work for or one that you will work for in the future.

General Guidance on Assignment Length:

The discussion will typically be 3-4 paragraphs in length.

References

Zimmerman, J. L. (2011). Accounting for decision making and control (7^th ed.). New York, NY: McGraw-Hill.

• Chapter 6, “Budgeting” (pp. 229–301)

Shastri, K., & Stout, D. E. (2008). Budgeting: Perspectives from the real world. Management Accounting Quarterly, 10(1), 18–25.