Consider different budgeting approaches in an organisation.

• Consider different budgeting approaches in an organisation.
• Consider how the budgeting approaches may differ among various organisations, such as a Fortune 500 company, a small business or a non-profit.
• What are the characteristics of a budgeting system among the various organisations?
• What are some of the ethical issues related to budgeting and the successful implementation of a budget?

In an approximately five hundred words , address the following issues/questions:

‘I don’t need a budget; I run my own business so it’s all in my head. Bothering with a budget would just be a waste of time and money!’

• Do you agree or disagree with this point of view?
• Discuss the value of budgeting for organisations of all sizes and types in terms of effective resource management.
• Explain what characteristics of a budgeting system are most likely to contribute towards its successful implementation and how a lack of these might result in ethical problems.