Cost Management: A Strategic Emphasis 5th Edition by David Stout, Edward Blocher, Gary Cokins

Exercise 6

Some critics of budgeting believe that budgets are effective tools for planning but not for control purposes. What is the essence of this argument?

Step 1 of 2

The budgeting is the process of preparing one or more than one budget. A budget is a financial strategy for a specific forthcoming period of time. A budget is prepared and swotted on an intervallic basis. The attainment of the company’s strategic vision depends on the performance assessment.