In your own words, answer this unit’s discussion questions in a main post (recommended minimum 300 words)
Many companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack when budgeting are effective control practices and monitoring.
Budgeting is essential to businesses, but it is not that simple to implement:
- What are some challenges and weaknesses that a firm may find in the budgeting process?
- What are some examples of effective monitoring and control practices, and how do they help address budgetary challenges?
- Discuss the role of the budgeting committee and its responsibilities