What Is the Purpose of Budgeting in an Organization

question 5

Essay

What is the purpose of budgeting in an organization.

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Definitions:

Organized

The state or condition of being systematically arranged, especially for efficient planning and execution.

Expectations Decrease

A reduction in the anticipated or desired outcomes, often leading to adjusted objectives or satisfaction levels.

Rough Order of Magnitude

An early estimate that gives a general sense of a project's size, cost, or duration, often with wide variances.

Ballpark Estimate

A rough approximation or preliminary calculation of cost or value, not intended to be exact but giving a general idea.