fbpx

Tag - budgeting

THE WEBSITE IS ABOUT MANAGERIAL ACCOUNTING. EXPLAINED IN PLAIN LANGUAGE. ABOUT ACCOUNTING WITH LOVE

Planning and budgeting

These terms had been confusing me for a long period of time, but then I realized that the budgeting is a type of planning. So many businesses doing what-they-call budgeting are actually involved in planning. It is a good idea as many enterprises do not consider planning at all. What is the difference between planning and budgeting? Actually, the difference lies in the centers of financial liabilities if we consider budgeting. In other words, the head of the department having approved...