The purpose of this paper is to explore the various stages of the budgeting process and attempt to evaluate their effectiveness. I will further evaluate the level and validity of detailed assumptions used to create budget estimates. I will discuss the role of the budget as an analytic tool and explain how the budget can be used to evaluate organizational performance, eliminate inefficiencies in an organization's performance, and explain the budget's role in the business …
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showed last 75 words of 2839 total
…gt;Performance Visualisation Web site: http://www.metapraxis.com/pdf/MeansToEnd.pdf. Peterson, P., & Fabozzi, F. (2002). Capital budgeting . New York: John Wiley & Sons Inc.. Spellacy, P. (2005). Retrieved Nov. 28, 2005, from Glossary Web site: <Tab/>http://www.fpd.finop.umn.edu/groups/ppd/documents/information/Glossary.cfm. Wellman, M. (2005). Performance-based program budgeting. Retrieved Nov. 28, 2005, from <Tab/>http://www.oppaga.state.fl.us/budget/pb2.html.