Calculation

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Submitted By superpig
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Introduction
Budgeting is in its simplest term, an estimation of future outflow/ inflow of money as well as predicted income within a fixed period of time. Budgeting is to many companies, a method of allocating resources. It also serves to evaluate its performance of the organization. Thus I agree to a large extent that budgeting is a key component in management in short and long term planning.
Short-term budgeting (Advantages)
The pros of short-term budgeting is, firstly, it can help to improve the co-relations between employee as they will be communicating with each other closely to meet the budget plans set by the company.
Secondly, budgeting can helps the company to improve in allocating the resources as request are justified. Company will base on the budget plan to acquire the resources that is needed for the company to produce its products and maintain the quality of the production.
Thirdly, it will provide companies with a record of its organizational activities throughout the month/year. By having these records, it allows companies to compare its standard plan with the actual result produce within the month/year. Thus organization can further improve its budgeting plans in future and solve the problems face during the past month/year.
Disadvantages
However, there are also disadvantages of having a short-term budgeting. Firstly, it will faces strong competition to allocate resources from the external forces such as other companies in the same line of production.
Secondly, Employees will be demotivated to work in its best as there will be lack of participation in the budgeting plans to voice out it views. In addition, by having a budgeting plan mean the costs, working environment and work load will be affected. Personal interest of the employee will be afraid that their job would not be secured as they do not understand/trust the motive behind the…...

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