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Which of the following is not one of the aims of budget process?
A. Controlling
B. Motivating
C. Forecasting
D. PlanningThe answer given is C.
Why can’t forecasting be one of the aims of the budget process?
Why ‘motivating’ is one of the aims of budget process? How does it motivate?
Are you actually watching my free lectures?
Forecasting is needed in order to prepare the budget, but it is not the reason for preparing budgets.
One of the uses of budgets it to give targets to managers (and maybe they get a bonus if they do better) – this is done to motivate the managers to do better.
Yes, I always watch your lectures and I have also finished watching your lectures for this budgetary chapters. I guess I probably forgot as I study more and more chapters.
Thanks for your help as always. 🙂
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