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BIO 1421 - 005
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This 1 page Class Notes was uploaded by Nikita Hendricks on Friday October 14, 2016. The Class Notes belongs to 2304 at Baylor University taught by Prof. Stuebs in Fall 2016. Since its upload, it has received 6 views. For similar materials see Managerial Accounting in Accounts at Baylor University.
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Date Created: 10/14/16
Managerial Accounting What is budget for an organization? Budget is a plan established for an organization's goal that the organization want to achieve. Why budgets are important for an organization? Budgets help to coordinate and communicate everyone in the organization about future plans, and it makes sure that everybody is on the same page. How many phase are for budget? and what are the name of them? there are two phase of budgets. the first one is planning phase, and the other is the controlling phase. what happen in planning phase of budgeting? the planning phase use the budget to communicate organization plans to their employees and to help employees to coordinate proper activities across the organization.
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