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Question

The Kalgan Driftwood Company has decided to that it needs to use the budgeting process

much more

substantially to manage its activities. You are a graduate trainee who has just

started work in the accounting department of Kalgan. In your degree studies, you

completed a module called Managerial Finance and learned that budgets serve a number

of useful purposes including:

(i) Planning annual operations;

(ii) Coordinating the activities of the various parts of the organisation;

(iii) Communicating plans to the various responsibility centre managers;

(iv) Motivating managers to strive to achieve the organisational goals;

(v) Controlling activities;

(vi) Evaluating the performance of managers

You are asked to select four of these purposes and explain in a presentation to your

Kalgan work colleagues about how budgets achieve these aims. Write an essay that will

form the basis of your presentation.

Total of 1,000 words for this part = 60 marks

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