This is for a class BUS 6003 Foundations of Accounting and Finance thread post..
Complete an initial posting with 300-500 words answering the desired question(s) or proposing your solution to the problem given in the forum.
Your posting should include a reference to two additional peer reviewed sources.
· The budgeting process is a critical component of managerial accounting because it connects to the two management functions of planning and controlling. Because it creates the forward vision of the firm and provides accountability, once the firm embarks upon the budgeted plan, it is important to build these plans on realistic assumptions.
· How have you engaged in the budgeting and planning process in your organization, whether on a project, department, or overall firm?
Explain your answer.
The textbook we are working out of is: Marshall, D., McManus, W., & Viele, D. (2017) Accounting: What the Numbers Mean. 11th Edition. McGraw Hill-Irwin Publishing. New York, New York. ISBN: 9781259909443
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