The human resources manager of your firm is worried about the amount of time and resources consumed by the budget committee annually. She believes the whole process is a waste of time and that departments should be allowed to set their budgets. But you also reckon that a budget is based on the policies needed to fulfil the objectives of the entity i.e. it is a plan consisting of objectives and what to do to achieve the objectives. As an account officer in the finance department, the head of finance has asked you to address the fears of the HR manager in a memo. You are required identify at least four (4) budgetary design issues and discuss the questions that these issues raise together with solutions that may be adopted in practice. Also, analyze the pros and cons of for her proposal.

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Budgetary Design Planning issues The following are the most common issues faced in planning budget Time Multiple budget contributors working with mult... View the full answer