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This paper discusses the commonalities and differences between the budgets of individual, for-profit, non-profit and public-sector entities. This paper explains how the budget process is similar and different between all of these entities. Budgeting is a critical element in financial planning, explains the author--whether the budget applies to an individual, a company or public entity, the budgeting process, its application and execution forecast the expected future.
From the Paper:"One of the most essential ingredients for a manager to effectively run an organization is the ability to develop and implement a good budget. The main objective of a budget is to establish a method of allocating limited resources in order to achieve the best return on their dollars. Furthermore a budget also outlines the various sources of revenue and the anticipated amount of money that will be derived from each source. Individuals, governments, non-profit organizations and profit making businesses commonly use this financial planning process. Each of these entity's budgets have many similarities and differences."
Cite this Comparison Essay:
Budgeting (2002, July 16) Retrieved June 01, 2020, from https://www.academon.com/comparison-essay/budgeting-6115/
"Budgeting" 16 July 2002. Web. 01 June. 2020. <https://www.academon.com/comparison-essay/budgeting-6115/>