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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

What are the three major objectives of budgeting?

To determine

Budgeting is a process to prepare the financial statement by the manager to estimate the organization’s future actions. It is also helpful to satisfy the everyday activities.

To Describe: The three major objectives of budgeting.

Explanation

The three major objectives of budgeting are described below:

  • To set the goals for the future actions.
  • To implement the strategies to accomplish the preset goals.
  • To compare the actual results with the budgeted results periodically.

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