Study Document
Budgeting in America What Are Research Proposal
Pages:1 (328 words)
Sources:1+
Subject:Other
Topic:Classification
Document Type:Research Proposal
Document:#82510981
Question 3: What is the budget cycle?
The budget cycle is defined by a series of stages, stages that make up the budgetary process. First, there is the preparatory stage. The needs of the upcoming year are forecasted, and the organization's goals are defined. It determined how best to allocate scarce financial resources and priorities are set. Secondly, there is a period of consideration before the approval of the budget. Necessary revisions are made, based upon critiques and input from organizational leaders and special interests. The third stage involves the distribution of funds and execution of the budget. This is followed by the critical fourth stage of auditing and evaluation. Auditing and evaluating what has transpired ensures that departments can learn from their mistakes, and rectify what problems have arisen for the following fiscal year.
Works Cited
Budgets. UNM. Retrieved June 20, 2009 at http://www.unm.edu/~gleasong/a/notes/budget.pdf
Line item budget. (2009). BusinessDictionary.com. Retrieved June 20, 2009, from BusinessDictionary.com website: http://www.businessdictionary.com/definition/line-item-budget.html
Sample Source(s) Used
Works Cited
Budgets. UNM. Retrieved June 20, 2009 at http://www.unm.edu/~gleasong/a/notes/budget.pdf
Line item budget. (2009). BusinessDictionary.com. Retrieved June 20, 2009, from BusinessDictionary.com website: http://www.businessdictionary.com/definition/line-item-budget.html
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