This module discusses the budgeting process conducted in managerial accounting and how budgets are used.

Discuss all of the following and think about personal experience with the topics.

• The key uses of a budget for an organization that you are a part of (manufacturing, service, nonprofit)
• The ways that budgeting can be extended beyond an organization to your personal life
• The best approach to making budget cuts across an organization

Answer rating: 100% (QA)

Key Uses of a Budget for an Organization Manufacturing Service Nonprofit 1 Resource Allocation Budgets help allocate resources efficiently by setting limits on spending in various areas such as produc... View the full answer