Budgeting
The budget is the quantified, written expression of management’s plans. All levels of
management should be involved in creating it. A workable budget promotes coordination
of personnel, clarification of policies, and crystallization of plans. It also creates greater
internal harmony and unanimity of purpose among managers and workers.
In recent years, considerable attention has been given to the behavioral implications of providing managers with data required for planning and control. Budgeting plays an important role in influencing individual and group behavior at all stages of the management process, including (1) setting goals, (2) informing individuals about what they
should contribute to the accomplishment of the goals, (3) motivating desirable performance, (4) evaluating performance, and (5) suggesting when corrective action should be
taken. In short, accountants cannot ignore the behavioral sciences (psychology, social
psychology, and sociology) because the decision-making function of accounting is essentially a behavioral function.
Budgeting
The budget is the quantified, written expression of management’s plans. All levels of
management should be involved in creating it. A workable budget promotes coordination
of personnel, clarification of policies, and crystallization of plans. It also creates greater
internal harmony and unanimity of purpose among managers and workers.
In recent years, considerable attention has been given to the behavioral implications of providing managers with data required for planning and control. Budgeting plays an important role in influencing individual and group behavior at all stages of the management process, including (1) setting goals, (2) informing individuals about what they
should contribute to the accomplishment of the goals, (3) motivating desirable performance, (4) evaluating performance, and (5) suggesting when corrective action should be
taken. In short, accountants cannot ignore the behavioral sciences (psychology, social
psychology, and sociology) because the decision-making function of accounting is essentially a behavioral function.
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