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holding is very important in an organization. with detailed budgeting, every financial expenditure decision has a record.

it helps to know all my budget categories. helps to know all different types of cost in my budget. helps to know estimate amount of each budget category.

Budgeting is vital function to reach organization targets

By having a standardized budget planning in place, it helps to moderate your performance and bring speed progress and easy acceleration not having to struggle in completing a task. Above all budgeting is a key roles that every individual can't do with out.

In order to spend budget efficiently over the year, convince the funder, achieve strategic goals and avoid shortage or low performance budget expenses, it is essential to have a system for budgeting.

The purpose of why having a standardized system of budgeting is to achieve your planed project by breaking down the grand total of whole budget to cover for each expense during the course of the project implementation.
After a successful completion of project as per the statement of work or terms of agreement, the organization could win the trust of donors or client which may give them another chance for money to run that organization.
Currently, our organization is implementing humanitarian information service in one of the refuges camp in South Sudan where by we work hard to unite the refugees and host community through radio programs. Through our activities, peaceful co-existence between the host and refugees has been realized as a benefit our our project

While a well organized budget helps organize costs, it also brings clarity to the funding of programs and projects and enhances accountability.

Having a standardized system for budgeting gives insight in your financial situation and the needs that you have. These are basic insights to run an organization responsibly. For social enterprises it is essential to be transparent. Funders and sponsors also often require insights into the operation budget and use this as measure on how well the organization is performing. They might also look at impact, but in the core will always be, what are the cost involved with the given impact, so how efficient is the organization. Budgets simply are essential, to make action plans and to monitor if you are performing as expected

A standard Budget refers to organizational financial strength, and having a proper budget procedure it cannot be run even a single day of a working process. Budget is that kind of monetary system which maintains a time -frame in which income and expenditure are measured as per segment. Anyone can observe the strength and weakness in the organization of studying it's budgetary manual and the main purpose of budgeting is the allocation, distribution, planning, controlling of finance in any organization.

A standard Budget refers to organizational financial strength, and having a proper budget procedure it cannot be run even a single day of a working process. Budget is that kind of monetary system which maintains a time -frame in which income and expenditure are measured as per segment. Anyone can observe the strength and weakness in the organization of studying it's budgetary manual and the main purpose of budgeting is the allocation, distribution, planning, controlling of finance in any organization.

A standard Budget refers to organizational financial strength, and having a proper budget procedure it cannot be run even a single day of a working process. Budget is that kind of monetary system which maintains a time -frame in which income and expenditure are measured as per segment. Anyone can observe the strength and weakness in the organization of studying it's budgetary manual and the main purpose of budgeting is the allocation, distribution, planning, controlling of finance in any organization.

Having a standardized budget has these benefits:
-requests are treated faster because they are processed on one system.

• performance can be monitored to meet the organizationel objectives
  -problems can be identify before the occur

With the little I could gather so far, Budgeting for every project helps the organization gain more in streamlining project costs and as well lies in the ability to prevent unnecessary costs and to allocate the correct amount.

the purpose creating budget to control expenses such as operations and implement, programs and projects un organization

A proper budget will ensure that no expenses are overlooked and that accurate costings are allocated to each expense line. Gains of proper budgeting is that the project will receive all the required funds to completion and also avoid unnecessary procedures of budget reallocation. Benefits of proper budgeting includes, having an informed source of information when communicating to project implementers and also makes it easy to track resource usage while investigating the variances.

Standardized system for creating budget is valuable for my organization in a way that it will help the a new employee who is in charge of making annual budget not to face a lot of challenges making it since this system has already been established. My organization will gain an organized plan of how to check on expenses and how to increase on the sources of funding.

I think it can help us in having a clear sense of how our money is spend. It will help the organization in having credibility in the eyes of funders.

Budgeting is very important in our daily life activities we under take in our various departments, Businesses ( local and internal) , House/home and our daily life spendings.
With budgeting it will help you to know the amount of capital needed for a particular program, the amount of capital at hand for that particular programa and the expected revenue, Gain and profit at the end of the program.

From experience budgeting helps to avoid impulse costs or costs that are not budgeted for. It also works as a control measure you can only run in your lane. It controls spending habits and you major important and budgeted items.

budgeting helps in planning,tracking and establishing control on expenses while in pursuit of short term and long term financial goals

Budgeting helps organizations to focus more on cash flows as well as how costs can be reduced. In other instances, budgeting helps businesses upsurge their returns on investment and as well improve profits.

In my opinion, it's important to have a standardised system to know how our spending works.
the advantage is the control and fair distribution of costs.

The most important thing in a budget is to avoid impulse spending, track your projects and to enhance transparency with donors

Having a standardized system for budgets will set a perfect standard in running the organization effectively without having the risk of running into bad debts and also creates transparency in all affairs.

The organization has a lot to gain in the sense that work flow will be smooth without hiccups and every dime spent will be well documented.

Creating a system for organizational budgeting helps in the running of the organization both financially & physically. Less time is spent in implementation, planning and execution in the end will help the organization greatly.

To have a standardized budget it helps to save time of funds management and control the cashflow well to maintain the capital of the programs.

Dr Gourh description gives a correct skill on how to run several programs under a single budget.

This can improve our organization, to save lose of capital as it will shows benefits and era under one system.

Having a standardized system of budgeting is so crucial because you understand the cost of what you are going to do .You already know the input costs and you implement well your projects.

The value of having a standardized system for creating budget in an organization helps the system managers recognize leakages as as blocking them and cutting down the cost of managing the organization so as to maximize utility, it also increase the technical-know-how which will later increase the productivity inother to reduce the turnarround time so as to meet with the optimal expectation of customers needs and certisfaction.

Budgeting in multiple projects in one institution help breakdown of financial drain of each project. However in the context where costs may not exactly be isolated to primarily benefiting one project, that is why there needs to be categories of money allocation. furthermore the complexity of multiple projects being run by different people creates loop holes for misuse of resources, as such a standard operating system for budget in an organization ensures harmony in similarity of expenses throughout.

In essence, having a standardized budget (as many has already mentioned) means that expense and cost allocations can easily be tracked down and managed. In addition to that, I also strongly believe that in the process of making a standardized budget we will be compelled to better learn about out programs and what it needs.

It is vital to have a proper budget to run any organisation and especially important in an NPO. This will give everyone involved an idea of how much funds are needed on a monthly basis and plan for more resources.

A budgeting system would definitely same time and human resources as all budgets could be seen as part of a whole as opposed to each one of them being approached individually, on its own terms.

Proper Budgeting helps in forecasting expenses and channeling resources adequately. It gives direction to organizational spending.

proper budgeting enables the project to be successful .

Having a clear and harmonised budget will reduce the time spent in looking into scattered budgets for the same organisation. It will also ensure that all projects / programmes and organisations expenses are well budgeted for and resourced. Budgeting also ensured sustainability of our organisations.

It is important to have all the budgets in a single system, this will allow to have a greater control over the different types of expenses in all the projects, you will be able to know which budget lines have been over-spent and which ones have not. It will also help to the needs.

Budgeting is critical as it clearly shows what the finance is required to achieve the organization's goals for the period. It sets the tone for fund raising, financial discipline through efficient use of resources and transparency to donors.

Having a standardize budget gives a lot of benefits to the organization as well as the stakeholders. In short, it is useful to know expenses incurred against planned activity, to evaluate the result against expenses incurred, to forecast the future financial requirements, to make cost analysis in order to figure out its benefits and loss, etc.

The Benefits of Budgeting includes help to Organize Your Spending and helps performance evaluations.

Budget in a way, helps an organization to know the output, or actual financial performance against the budget earmarked for a function. If a standardized budget system is in place organization would be able to measure how much has been spent and where necessary relevant actions can be taken, e.g
A budget to spend 1 million for a function and actual is 1.2 million, management can decide to accept the 1.2 million as a budget subsequently, or cut down on some things to achieve the 1 million earmarked. it gives a kind of control on expenses and output.
My Organization would gain more:

1. Expenses that are uncalled for and can be avoided will not be incurred.
2. It will encourage savings attitude in order to execute some projects without Head Quarters involvement.
3. Discipline when incurring expenses.
4. Monitoring of some head and sub-head expenses

Having a well defined process for bugdeting at an organisation can help the organisation to budget well and also plan for future plans. The organisation can also cater for the needs of needs of people in the organisation which could some time not be taken care of for example Dr. Fourth mentions the people at head office or vendors that contribute to several projects.

Who will need to use my budget and the information they will need to know.
The funder of the organisation will need to know what the plans of the year of the organisation are and in this case it will help them to be motivated after knowing that the plans made are of a great result at the end of the year.

How often the organisation should creat a cash flow bugdet.
****The organisation should create a cash flow bugdet every month, this is because the organisation can plan well when to pay their workers at the company and also other organisations expenses which could be needed to be paid monthly. The monthly cash flow bugdet can also help the organisation to know how much cash inflows and cash outflow so as to plan well.

Having a well defined process for bugdeting at an organisation can help the organisation to budget well and also plan for future plans. The organisation can also cater for the needs of needs of people in the organisation which could some time not be taken care of for example Dr. Fourth mentions the people at head office or vendors that contribute to several projects.

Who will need to use my budget and the information they will need to know.
The funder of the organisation will need to know what the plans of the year of the organisation are and in this case it will help them to be motivated after knowing that the plans made are of a great result at the end of the year.

How often the organisation should creat a cash flow bugdet.
****The organisation should create a cash flow bugdet every month, this is because the organisation can plan well when to pay their workers at the company and also other organisations expenses which could be needed to be paid monthly. The monthly cash flow bugdet can also help the organisation to know how much cash inflows and cash outflow so as to plan well.

A good budgeting system will help a company reach its strategic goals by allowing management to plan and to control major categories of activity, such as revenue, expenses, and financing options. Also, a standard system for creating budgets would help an organization to save time during budget and also ensure that the right steps and key considerations with respect to the activity carried out are taken. This would keep the organization on course and enable it to meet its objectives in a cost effective manner.

I agree with you. Having a well structured budgeting system is advantageous in saving time which can be used to follow up other aspects of the project.

Having a well structured budgeting system would help an organization; manage money effectively, allocate appropriate resources to projects, monitor performance, meet objectives, improve decision-making, identify problems before they occur - such as the need to raise finance or cash flow difficulties, plan for the future as well as increase staff motivation. So having a well structured budgeting system is very important for the welfare of an organisation.

Having a standardized system of budgting will make the organization function as one, despite having several projects.

It will make separate projects within the organization easily align with common financial goals,if any.

It will also make the organization to reliably assess/compare each project performance with each other.

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Budget helps to be on track as as organization of our financial programmes. it however also make us make a better planning decision of our expenditure of how and when to spend in a [articular programme. Budgeting is all about setting an amount aside to run all activities of an organization within a particular time frame and so, budget keeps us from feeling financially overwhelm and prepare for emergency situation.

One of the most important function of budget is that its keep us from financial debts and make us stay focused on our long term financial goals and its make us avoid over spending.

nice topic

Budgeting is very important and need to be plan very carefully. A centralized and standardized system need to be in place to see each project and department resources utilization and cost effectiveness.

The main purpose of budgeting is to create working process in Finance management. Budgeting helps to organization to plan expenditure and income.

It can always be viewed from the professional opinion of Dr. Gourh. In my case the most important thing is about reducing psychological stress and get more clarity to pivot. I also noticed a benefit of transforming some expenses to a total new project or a specialized entreprise within the main brand ecosystem and with that we can foresee more opportunity and keep improving.

The main purpose of budgeting is to create working process in Finance management .

Budgeting is very crucial to the growth of an organization and also helps to disburse or allocate funds to key potential projects for sustainability and growth.

A cash flow budget is an estimate of all cash receipts and all cash expenditures that are expected to occur during a certain time period. Estimates can be made monthly, bimonthly, or quarterly, and can include nonfarm income and expenditures as well as farm items. Cash flow budgeting looks only at money movement, though, not at net income or profitability.

A cash flow budget is a useful management tool because it:

forces you to think through your farming plans for the year
tests your farming plans, such as if you will produce enough income to meet all your cash needs
projects how much operating credit you will need and when projects when loans can be repaid
provides a guide against which you can compare your actual cash flows

We are implementing a project on SEXUAL REPRODUCTIVE HEALTH, our donor begins their funding form November 1st, we normal present the draft for approval.

Budget is the wallet of the organization/country, and empty wallet is bad thing. We don’t have necessary to take utmost care and organization of our personal wallet, but budget is the other thing. Good and standardized budget is important if we want our top managment to achieve good results, for what we need harmonius communication between sectors on the long term plan. After all the activities for gathering and using resources are done we can evaluate our results.

Budget is the wallet of the organization/country, and empty wallet is bad thing. We don’t have necessary to take utmost care and organization of our personal wallet, but budget is the other thing. Good and standardized budget is important if we want our top managment to achieve good results, for what we need harmonius communication between sectors on the long term plan. After all the activities for gathering and using resources are done we can evaluate our results.

A proper and a standardized budget system will allow you to determine whether there is enough fund for the project. A standardize budget system also help in prioritize the spending and focus only on the things that require agent attention. Proper budgeting system will enable the organization to identify available capital, provides an estimate of expenses and also anticipates income to be generated. It can also be used to measure the performance of the project and control of finances of the organization. The budgeting is also important for motivation.

Having an organized budgeting procedure minimizes risks to management of under performance of projects due to poor forecasts. Poorly planned and developed budgets make implementation difficult to achieve and hence long term losses to companies in terms of funding and clients.

It is valuable to have a standardized system for creating a budget because it helps organizations to be more prepared when calls come. When an NGO knows the traditional expenses for a project, it can answer more efficiently to a call. NGO will have to adjust some expenses, but it will have a form to adjust. A standardized system for creating a budget is a financial planning tool, and it will help organizations to follow the expenses in a month, year and get feasible financial information.

In our personal lives, most of us understand the importance of planning our expenses. After all, it would be impossible to plan a vacation, rent a home, or even buy a meal without a small amount of financial planning. Each of us spends a part of each day consciously or unconsciously thinking about ways we would like to spend money and considering how much money is available to us.

Yet, the same people who confidently sign a purchase agreement for a home are often uncomfortable creating thorough budgets for their organizations. This is understandable but unfortunate. Indeed, while the basic task of budgeting—planning expenses and income—is always the same, creating a budget for your organization is much more complex than creating a budget for your household.

For one thing, the numbers are usually larger. An organization with several programs and many employees will most likely have significant income and many expenses. Depending on where your organization operates, there may be complex legal requirements. And, your budget will be viewed by many different types of people, each with different expectations

Budgeting gives proper direction of the organisation in its activities. controls expense and helps track and improve the finances

am taking this course because i want to lean more in budgeting but with the explanation the case study above by Dr Gourh my organization is going to gain insight in the three expenses which is the shared, the program and overhead expenses; and it important to have a well-defined process for budgeting.

the Purpose of Budgeting in my organization is to have a well design plan for the future for my organization not to run into financial loss.

The purpose of budgeting is to understand the plan and program and the financial implication of the organisation human resources, and financials and administrative.

@esalazar said in Module 1: The Purpose of Budgeting:

Having a standardized system creates more organization for the budget. In addition, having all components of the budget within one system also allows you to see the project components, where they overlap and where possible gaps are within your programming. The organization would gain a more streamlined project view from the budget and a cohesive budget to see where possible budget "leaks" are.

@Cyndimau
Having a standardized system helps an organization to reach its strategic goals by allowing management to plan and control major categories of activities, such as revenue, expenses and financing options. The organization will know more about budgeting correctly to avoid over budgeting or under budgeting.

Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.

HHWT used a simple method for budgeting , i need to grow and find out more about budgeting

Budgeting is a planing tool. Where this plan is not made then the project could fail

It is important to have a well-defined process for budgeting in order to help keep the organisation from deviating from it's goals. Having a standardised budget in an organisation will enable her easily ascertain project expenses, ease reporting and help track and prevent unneccesary cos

Budgeting is the most important tool for project planning cause it evaluate either my project will successes or not ..also it provide clear picture for investor and funders bout it.

Having a standardised system of creating budget helps strengthens the internal control system and gives uniformity in budgeting for programs. It also helps in tracking budget variance and analysing the variances.

Budget been a financial plan is carried out to enhance proper costing processes with regards to the project in question that will enhance smooth implementation. It serve as a guide for effective, efficient and economic utilization of available funds to a project.

Constructing a budget provides opportunity for improved efficiency of funds, transparency, and accountability. A clear and concise plan provides boundaries necessary to ensure good financial health of an organization. Maintaining financial activities within a standardized plan enables the administrative teams to more accurately define areas of greater need (i.e. programs or project serviced by the organization).

A standardized budget system helps to create visibility and transparency for all projects in the organization. All the costs in the should be accounted for to ensure nothing is missed. This gives the opportunity to identify gaps in the system and then you can make the necessary adjustments.

We need to have a standardized system in creating the budget to help us have a correct estimate of the project budget.
Based on Dr Gourh's theories, our organization will benefit from employees capable of building budgets without gaps.
The advantage that I notice is that the best way to build the budget is to put all the program budgets together into one centralized budget.

We need to have a standardized system in creating the budget to help us have a correct estimate of the project budget.
Based on Dr Gourh's theories, our organization will benefit from employees capable of building budgets without gaps.
The advantage that I notice is that the best way to build the budget is to put all the program budgets together into one centralized budget.

A standardized budget help to get all the budget preparers to follow the guidelines and to ensure all activities be it program, shared costs or overheads fall in either group and to ensure uniformity and no activity is left out

It would be valuable to have a standardized system for creating budgets, because budgeting will allow you to create a spending plan for your money which ensures that you will always have enough money for the things you need and things that are important to you. Budget helps you figure out your long – term goals and work towards them. It forces the management to study about the problems relating to the timely implementation and generates a sense of caution and care among the line managers. An organization with a good budgeting system will help a company reach its strategic goals by allowing management to plan and to control major categories of activity such as revenue and other financing options. Budgeting provides a means of controlling income and expenditure of an organization.

the purpose of budgeting is to plan for generating and using resource effectively and efficient as well as guide to day to day operational in an organization

Having a standardized system for organization's budgeting puts the organization into a more coordinated perspective, enabling the smooth flow of programs and duties and also avoid duplication of financial activities.

In addition to what has been mentioned, I think that a budget, as a tool that plans the spending of funds, is important to guide it. It can help pinpoint over/underspending, and hence, incompliance with donors' regulations. It, as a result, improve efficiency and effectiveness.

It is very interesting to have a standardized system for creating budgets because we have exactly the amount needed for each activity.
What the organization gains is that their projects don't waste money.
When the organization had an organizational budgeting system, the advantage was that it was easy to differentiate program costs from other operating costs.

The importance of budgeting lies in the ability to well defined process which can prevent unnecessary costs with transparency and credibility that helps in the implementation of budgeted activities.

The purpose of budgeting is to plan a financial path for organizations income and expenditure. There must be clear and concise heads against main expenditures. It will help you in track all the expenses, and can be easily evaluate all the expenses against the defined activities on monthly, semesters, and annually.

It is essential for a well reputable Organization to have a standardized system of Budgeting. A good Budget earns more fund, uplift Organization's goals, creates more opportunity and has high chances of maintaining active Donors. It's like the backboned of the Institution.

Having a well developed budget helps an organization to properly use resources especially in projects implementation.

project budgeting provided the basis for project cost control. it measures the actual project cost against the proved budget and shows if the project is progressing as planned or corrective measures needs to be undertaken by the project manager.

Budgeting ensures that money is allocated to those things that support the strategic objectives of the project. A well communicated budget helps everyone understand the priorities of the project

Having a budget for my organization in the long run will help us save money and cut waste.

A standardized budget is created in the belief that it will help in the implementation of cost effectiveness and avoid the misuse of the money allocated to each program and also the efficiency of the personnel. If the budget created is not well organized, there will be confusion and chaos within the organization programs.

Having a budget for my organization in the long run will help us save money and cut waste.

Budgeting allows the organisation to standardise their processes. This enables the organisations to track their objectives against the logical framework and helps in tracking outputs, impact and also to be able to measure and deliver value for money on donor funds received.

Budgets are also tools that enables the organisation to track their costs against targets in order to establish variances, be able to investigate the variances and establish corrective actions points.

Having a standardized system will help us to identify all the costs more in details as we have more then 5 projects and are presently scaling our programs.. Especially the share cost and overheads cost. We want a more transparent way to work and we think that standardising our system will help us to grow in a more effective way!

Having a budget is essential to an organization more especially when it comes to controlling of expenditure, by working with the available resources. A budget helps an organization to know their goals and work towards achieving them. In my organization this will help me categorize expenses and prioritize on the crucial ones to help control expenditure.

Budgeting for a project helps with , ensuring that the project is runnig under the current estimates and that there will be no cost overrun and this can be avoided by estimation and proper appropriation of the budget

A budget process helps align my programming costs with the expectations of our donors and the individuals we serve.

The budgeting is important tool of financing. with a operation budget you can keep tracking of expenses, and it clear for your organization how much budget you need at the begging of year and what's your goal to fulfill. the vital part you have an option in the middle of year to revised your budget it gives you hand to keep looking to the activities and update your budget

It would be valuable to have a standardized system for creating budgets because it helps you avoid unplanned expenditures; it helps you to be in good ways to succeed starting better your projects.
As there a lot of expenditures the organization has to pay, by having a standardized system for creating budgets, will enable you even think of other projects.

having well structured budgets, allows the organization to make better plans and good expenses and trace well the finances of the company.