Lorinzer Denning-ACC410-Wk4

Lorinzer Denning-ACC410-Wk4 - ACC410 Wk: 4 Q3-1...

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ACC410 Wk: 4 Q3-1 Governmental budgeting and budgetary control is important because it represents that decisions have been made on the basis of a planning process about how the unit is to reach its objectives. Q3-3 Budgeting is a continuous process. The reason why budgeting is a continuous process is because it takes a lot of time to establish a goal, plan, establish control on how to maintain its budget, and always evaluate its plan to make sure you remain on track. Evaluating must be done every quarter to at what stage they are in regard to completing there goal or just remaining in compliance. Officials are engaged each year: Ensuring that the prior year’s budgetary reports are properly prepared and audited Administering the current year budget Preparing the budget for the next year. Q3-5 a. A budget isn’t a means of getting money. It tells its officials of how its money was spent the year before and how to continue offering its services how much it would need to by anticipating an increase in involvement. b.
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This note was uploaded on 07/13/2008 for the course ACCT 403/410 taught by Professor N/a during the Spring '08 term at Strayer.

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Lorinzer Denning-ACC410-Wk4 - ACC410 Wk: 4 Q3-1...

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