Essay

1. Using the textbook and/or the Internet, find resources that confirm the importance of budgeting to organizations and answer the questions below in essay format.
2. Your essay must include an introduction, body, and conclusion, and address all relevant parts of each question. Your response should be a minimum of 300 words in length. Make sure to cite any references you use. Proper citation format for a reference includes the name of the author(s), the title of the work, the date of the publication, and the page number.

The Budgeting Process

Describe how and why managers use budgets. What type of budget approach is typically used in for-profit companies? Is a personal budget similar to a company's budget in any way? Explain your answer.

Note: You must use and cite at least one resource.

a minimum words count requirement of 300