Organizational Budgeting Task
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An Organizational Budgeting Task is a budgeting task that is an organizational planning task (to produce a planned organizational budget).
- Context:
- It can (typically) be solved by a Budgeting Process (that is supported by a organizational budgeting system).
- It can be an Annual Organizational Budgeting Task, ...
- It can range from being a For-Profit Budgeting Task to being a Not-For-Profit Budgeting Task (such as government budgeting).
- Example(s):
- Counter-Example(s):
- See: Auditing, Tax Accounting, Capital Budgeting.
References
2013
- http://www.nonprofitaccountingbasics.org/reporting-operations/budgeting-process
- QUOTE: The budget process is the way an organization goes about building its budget. A good budgeting process engages those who are responsible for adhering to the budget and implementing the organization's objectives in creating the budget. Both finance committee and senior staff participation is built into the process and a timeline is established leaving adequate time for research, review, feedback, revisions, etc. before the budget is ready for presentation to the full board. The annual budgeting process should be documented, with tasks, responsibility assignments and deadlines clearly stated. A good budgeting process also incorporates strategic planning initiatives and stipulates that income is budgeted before expenses. Fixed costs are identified and related to reliable revenue. Budgeting decisions are driven both by mission priorities and fiscal accountability.
1983
- (Flamholtz, 1983) ⇒ Eric G. Flamholtz. (1983). “Accounting, Budgeting and Control Systems in their Organizational Context: Theoretical and Empirical Perspectives." Accounting, Organizations and Society, 8(2).