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Budgeting helps to give clarity, if my organization does not have a clear budgeting procedure, we won't know the area in which investors funding we be required, giving account on how much capital has been spent, where, what and when we be difficult.

If when does not have clarity as earlier mentioned it will be difficult to measure the status of organization, what can not be measured can not

My previous project did not standardize the financial policies while different projects had shared stakeholders. This caused conflicts between the stakeholders and one of the projects, because each project had defined its procedures.

Abudget is a planning tool and without it the orgaization is bound to failing.

A good budgeting plan and a strategic plan work hand in hand to protect organizations and stay on tack to achieve goals aligned with the mission and vision of the organization. This creates trust and good relationships with stakeholders. It also prevents being side tracked by internal, external or political agendas not well aligned with the purpose or the organization.

in order to control your spending to consistently saving and investing a portion of your income, a budget helps you stay on course in pursuit of your long-term financial goals.

The reason for standardization system is to synchronize the organization expense which will help the organization in cost containment and justification. It gives a first hand clarity and narrow now expense to a subhead.

It is important for an organization to have a well defined process for budgeting to ensure that all department expenses are captured and this will be achieved by including departmental heads in the budgeting process, also the organization will be able to fore cast their expenses based on the actual expenditures for the preceding period, ant therefore plan well for the activities to be done over time.

A budget is a tool that managers use to plan and control the use of scarce resources. A budget is a plan showing the company's objectives and how management intends to acquire and use resources to attain those objectives.

The importance of having a clear budgeting process allows and organization the ability to clearly view the true cost of the organization as well as how each project is being managed. This process allows the organization to view their weaknesses and thereby allow the organization to create as way to manage these weaknesses to achieve the stated goals and objectives. Accountability is the key phase that one uses in reporting to funders.

Having one organizational budget will help to make sure items are not left out, of fairly split between different projects. Not having one budget in the past has left one project unfairly paying for more administration cost, then other programs.

Budgeting is one of the most important managerial functions in any organization. Budgeting helps the management in proper utilization of scarce resources and also helps in controlling expenses.

Budgeting has very big important to my organization because it enhances coordination between departments, ensures effective program implantation, promotes accountability and builds donor confidence.

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

I agree with you sir..

It's much more important to define all costs for an organisation to grow

In my organization we have systematic budgets tools for reach project and one file for the all of them but unfortunately these tools is preparing by program team and Finance tear at our Head Quarter, sometimes I provide some information when requested, then I’m obligate to deal with this tool that I didn’t not take the first step with them to draft it, in fact I work with it these tools in good way but still I need to have deep knowledge about its fundamental base and other techniques to avoid some problems such as sharing cost, overhead percentage and how it applied, exchange rate and reaction toward affiliation rate in poor countries which is predicted, also working with Co-funding projects

the purpose of budget is to give clarity to the organization

It would be valuable to have a standardized system for creating budgets as it is important for decision making and create a transparent management within the organization. If each project managed by an organization has each a standard budget, it will allow the organization’s leadership to evaluate any eventual shortfall and help them plan ahead of time to find a solution before the problem really occurs.
Besides, having such standardized system would help increase the donors’ trust towards the organization (talking about non-profit) and may help get more funding if such budget is well managed. It is very good for the organization’s image.

I agree with you. A well-structured budget helps in tracking the expenses by category and do some forecast. It helps us know ahead of time if we have sufficient revenue to cover the planned expenses.

Personal the importance of budget is to avoid the unnecessary cost that may hinder the development of company goals and in turn into company expenditures to be more than company revenue.

So, basically the core Principle of Budgeting is to clarify ourselves about our expenses , so that we will be able to arrange our funding more prominently and will be able to efficiently utilize our findings.

A standardized system engaged the stake holders to differentiate and separate the cost based on its' function. it ensures that the organization will always have enough money for the things they need and the things that are important to them. There wont be any loss because everything has been planned and estimated based on its function such as operational cost, project cost, saving cost, etc. In another side, the organization can evaluate the cost spent for the company and forecast the following income target. Following a budget or spending plan will also keep the organization out of debt.

That's very correct.

That's very correct.

Its to help you know weather your going to achieve a certain goal or plan by preventing unnecessary costs and allocating a budget to a corresponding activity

Standardized system for budgeting is important because it will enable the team to make proper estimates which will prevent loss of money from funders. The organisation will be able to make better estimates for the funds required to implement the project. Also it will be easy to track expenditure. Using a standardized system will reduce duplication of tasks carried out by different stakeholders during implementation.

it is important to have a standardized system of budgets because it will help the organization to always have money for the things they need and plan for. it will also help keep the organization out of debt or help them pay debt if they are currently in one. creating a system for organizational budgets creates transparency, and it helps to track the company's performace.

Although each organization has different systems for budgets, the implementation of a good system enables the organization to use resources efficiently to achieve its goals, so it is important to have a standardized system for budgeting. However, according to Dr. Goarh, the organization will be able to effectively manage their resources and establish control and preventing miss use of organization resources.

Having standardized budgets helps the organization to account for every expense the program will incure. This help smooth implementation of the programs activities.

Standardised system of budgeting is a perquisite for a functional organisation, it helps to planning and organise funds, it helps to determine duplication and omission and also help determine where the most fund will be expended

A standardized system of budgeting helps to efficiently use company/organization resources. There could be no over-estimation or under-estimation for the projects.

Budgeting provides a systematic way of reviewing estimated with actual results, coordinating future activities and setting realistic targets. It is an effective management tool and benefits include: Provides a time frame required to control finances. Highlights cashflow shortages/financing requirements etc.

I think with the case study above, one thing is obvious. In budgetting cost allocation is very important because if cost incurred in the cost of producing an item or service is not properly allocated, the actual cost may not be ascertained and this may lead to loss or imposition of cost of product A to product B in the case of shared cost as described in the case study. Therefore its vital that shared cost, appropriation should be properly ascertained before apportioning cost in budgets

Budgeting is key to every successful project. its more like the drawing board that shows the full frame.
Having a combined one system Budget gives you a bigger picture of the entire budget and that can help in minimizing budget duplication of projects and will give a picture as to where loop holes are created

Budgeting helps monitor performance. It also has a decisive role in the operation and the achievement of objectives. the budgeting of an organization favors the respect of your objectives; improved decision making; identifying problems before they arise, such as the need to find money or cash flow difficulties.

Having a standardized budgeting system helps you to have a clear plan of estimated expenses. In addition, it helps you to remember important details and even tiny expenses so that everything maybe included. Moreover, it helps to minimize expenses.

even though, budget is one of the important tools to implement and evaluate the performance of a company, most companies are introduced the budgeting process to fulfill the request of the donors instead

we need a budget to run a business smoothly further, through the means of budgeting we can control or minimize controllable factors that may bring inefficiencies into our business

It is valuable to have a standardised system for creating budget because it helps give direction and the steps in achieving the goals of the organisation.

Having a standardized system enables an organization to ensure that it keeps track of its financial resources. Without an effective system to track and keep record of financial expenditures, it will be difficult to effectively manage financial resources.

It will be beneficial to have a standardized system for creating budgets to allow tracking of all money that comes in and out of the organization. It will also be effective in when creating your yearly budget, you don't have to start all over again every year. It will be beneficial to our organization so that we can go to donors with an exact number and breakdown of that number.

In addition, I believe that budget in a standardized system would operate definitely more efficient and would help the overall overview of single and whole projects.

Budgeting is planning expenses and income . The budget allows our organization to plan and track our financials for a defined period of time. It acts as the guide and dashboard for project implementation

Having a standardized system creates transparency in the project implementation.

A standardised system helps accountants and programme managers to keep track of an organisation's finances and to gain an understanding of the big picture. A clear internal budgeting process reduces the risk for mistakes and misunderstandings, as even staff not familiar with the budgeting processes of a specific grant will be able to follow the cash flow. Moreover, it will help auditors in analysing an organisation's finances.

Budgeting helps the organization to preparing appropriate allocation of resources to the planned projects which may be more easy to monitor and evaluate, and identify the challenges within the planned budgets. Using standard systems of budgeting also helps to eliminate small financial challenges that might face the organization in the future. Budgeting guides and supports the implementation of successful projects.

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well written answer, i think in a nutshell budgeting gives you a clear picture of where, how, when you have spent money and where else it should be spent.

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.As the case study shows as we will have organized money income and outcome. That may help us to be more profitable and also it will decrease our conflict with other companies or employees because of debt or shortage of money.

Having a well defined process of Budjeting helps to coordinate the over all expenses in a single centralized way of system flow. purposely, It gone clarify what expenses is needed before Planned out. and It lead us on the planned life of organization what things need how much cost effectively with a programic calender of the Budjet.

Budgeting helps create a spending plan which guarantees that you always have enough money for things to get done. Some benefits of organizational budgeting are ; easy to evaluate the organization management, Better communication with stakeholders and it is easier for departments to evaluate and plan to reach their goals.

A well structured budgetting process enables confirmity,accountability and transparency within an organisation. An organised planned budget facilitate the tracking of budget deficit.

The purpose is to run a well oil machine organization for all major players and stake holders to view and monitor at any given time. Generating a budget helps the organization to stay focused on the course and can help mitigate running out of pocket.

the truth is that if you do not know what your cost expenses are then you do not know how to convince your funders what you need

Proper budgeting helps in planning for the available resources especially the ginances

If you don't really know what you need in terms of finances, you can't figure out the deficit. It will be hard to convince a donor to fund what you don't even know

Classifying the expenses simplify your work

The purpose of budgeting is to accomplish the common goal of the organization and for resource allocation. Consistency is another purpose of budget. To track the organization (project) status and others

Having standardized budget helps an organization to allocate resources accurately, helps top management to make rights planning and it reduces misappropriate of funds. it also help organization to attract more donors to fund it.

budget is a controlling tool to utilize the resources

I am Ibrahim Jacob Maina, A budget analyst at JMBAWA Enterprise, Yobe, Nigeria

I am Ibrahim Jacob Maina, a budget analyst at JMBAWA ENTERPRISE, Yobe State, Nigeria

It is very important as it gives an organisation a bird eye on programs and running costs

having a well-defined budgeting system allows the organization to stay within its objectives, and it allows to have a general view of the organization, to clearly identify the costs according to the categories

Having a standardized system supports sustainable and organized operating budget for organization at present and in future.
In addition, we could see clearly our annual budget so we could manage our expense easily.

creating a detailed budget allows your org. to view accurate information fixing mistakes if needed. it creates growth and learning actual cost

It is important to budget in order to generate a plan and how to use resources.Budgeting helps to track the income and expenses or expenditure of an organization.

Budgeting is a plan for generating and using resource. It helps to track income and expenditure of an organization

Budgeting serves as a guide to the organization especially during project implementation, it also brings about clarity and orderliness to what and where money in the organization is used for/going to

Budgeting produces efficiency in operations by reducing costs, promoting effectiveness in planning and assisting in risk control

My name is Sifon Godwin Ekeruke, the purpose of Budgeting is to be able to track accountability and also track income and expenditure during a certain period of time.

A standardized budget ensures that you do not spend more than you earn, so you can plan ahead for short- and long-term expenses. It allows an organization to ensure when they see funding from donors for example they properly covering all their costs. There is a problem because if you do not understand what your program expenses are, it is difficult to convince your funders of what you really need. In addition, By omitting shared program costs from your budget, you will lose the money if your budget is not accurate. By having a standardized budget will help our organization ensure no shared costs are omitted, helps identify the sustainability of the finances and identify alternatives that need to be achieved to stay afloat i.e. sourcing for more funding in a specific period of time, clear picture of organization expenses other than project in order to know what amount to negotiate when submitting proposals for future projects. It will help project planning and fundraising.

Monthly would be the best bet. Weekly would be ideal but that takes up too much time. Monthly is safe enough to avoid falling into cash challenges and not too intrusive as well.

Everything is wonderful! The course justifies the hopes!

Everything is wonderful! The course justifies the hopes!

Having a standard budget for the organization allows each department to be on the same page with common managerial principles that will be served to convince donors. For our organization, having one single budget will allow clarity and help us save money from unnecessary expenses.

Budget Thing helps:
. In proper planning of expenses
. helps to estimate the costs .
. Used to carryout the costs and other expenses done
. Prepare and have standard plan for the organization.
. Helps in managerial decision making
. Acts as the for accountability.

Budget Thing helps:
. In proper planning of expenses
. helps to estimate the costs .
. Used to carryout the costs and other expenses done
. Prepare and have standard plan for the organization.
. Helps in managerial decision making
. Acts as the for accountability.

Il est important d'avoir un système de budget standardiser afin de mieux budgétiser les programmes de l'organisation, établir un budget qui répond à la demande de programmes et suivre les dépenses.

Dr. Rajnish Gourh clearly stated the problem with having unstructured budget, which I agree to.
In addition, it is very important to sub categorize the budgets like Personnel, Capital, Program, & Overhead expenses.
In a consolidated budget, we usually tend to miss the shared costs, which usually is a critical problem even in our organization. With a proper structured budget in place, the organization gets to sail in the right path without last minute time & cost overruns, or cross fund/cross utilize other program budgets.

Helps the organisation to be transparent about running costs and will help the organisation to budget effectively for programs.

Budget planning is vital to organizational survival in the sense that it'll help you to monitor, track and redeploy resources accordingly without causing any hinderance for the organization to achieve it's goals.

1. budgets helps to direct organizations.
2. budgets helps organizations to compare results from different projects.
3. budgets helps organizations to control cost.
4. budgets also helps organizations to avoid fraud.
5. budgets helps organizations to embark on capital expenditures.
6. budgets helps organizations to manage their finances (financial stability)
7. budgets help organization to have strong financial footing for long term investments.

A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. It is important for every organization and it is helpful.

From my understanding, a budget serves numerous purposes. It provides a financial structure that guides you during the decision-making process. Budgeting also gives you complete control of your finances. A well-planned budget can help you achieve your dreams and eliminate the stress that comes with handling issues related to finance.

The good thing about creating a budget is that it helps you to allocate your resources evenly. Budgeting also helps you to prioritize. It enables you to understand whether you have the financial power to handle any project you are embarking upon from start to finish.

Having a budget can prevent the organization from owning too much debt and eliminate lack at the same time. And even if you’re currently in debt, you will still benefit from drafting your budget plan. It will help you to become debt-free.

A budget process helps align my programming costs with the expectations of our donors

It is very essential to properly define and organise your budgeting process in order for you not to underestimate or overestimate your targets. You also need to extensively engage all stakeholders during and before the budgeting begins. Especially when you are running a number of programs. Every program or activity needs to be adequately catered for to prevent a situation where you are unable to spend because you have not adequately budgeted for it.

Having a project budget is very important. I like the way Dr Rajnish organised the budget. I once worked for a local NGO which had alot of donors some small and some large. We realigned our budgets so that our salaries could be properly aligned. We produced one spreadsheet which showed common budget lines (expenses) by donor. It eased our reporting work and improved compliance with donors and what he said is heart of good finance management. Actually, it is not fun in NGOs to have donor queries.

Having a Standardised budget system will help the organisation anticipate the future projections and organise the budget in accordance with that. It is important to have a standard/customised org level budget planning for for a longterm benefits of the org. Having a clear budget projects will help organisation, expand or improve the quality and quantities of the programs the organisation is running.

A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. Overall, a budget puts a person on stronger financial footing for both the day-to-day and the long term.

I think it is important to have a standardized system for creating budgets, because all of the ingredients or components that make up the budget would be easy to sort through them; observe the openings and rectify unnecessary overlapping that negatively affect the budget. The entity would be able to glean better outcome from the project when the budget is properly organized and implementing the operating budget easily without realizing much difficulties.

Avoir un système standardisé crée plus d'organisation pour le budget et permet aussi de réduire les dépenses de l'organisation. De plus, le fait d'avoir toutes les composantes du budget dans un seul système, vous permet également de voir les composantes du projet, où elles se chevauchent et où les lacunes sont possibles dans votre programmation.
L'organisation obtiendrait une vue de projet plus rationalisée à partir du budget et une cohésive pour voir où les fuites budgetaires sont possibles.

Avoir un système standardisé crée plus d'organisation pour le budget et permet de réduire les dépenses. De plus, le fait d'avoir toutes les composantes du budget dans un seul système, vous permet également de voir les composantes du projet, où elles se chevauchent et où les lacunes sont possibles dans votre programmation.
L'organisation obtiendrait une vue de projet plus rationalisée à partir du budget et une cohésive pour voir où les fuites budgetaires sont possibles.

For a non-profit, financial planning is crucial. A well-defined process for budgeting will put things in perspective as to which programs are to be prioritized, which projects within the programs need to be completed first. As per the need, the resources can be allocated in phases, shared expenses and overheads should be calculated with enough margins to overcome a crisis situation. It is important to have a standardized system of budgeting as it saves time and is easy to implement. Teams may change, but standardized systems give stability. The organization will benefit from good financial planning, if there are standardized systems for creating budgets

The purpose of budgeting is to provide a financial framework for the decision making process i.e. is the proposed course action something we have planned for or not.
In managing a business responsibly, expenditure must be tightly controlled. When the budget for advertising has been fully expended, the decision on "can we spend money on advertising" is likely to be "no".

It is important to have a standardized system for creating budgets in order to most accurately take into account all of your project costs to be able to explain these costs to your donors. The more accurate your budget, the easier it is to communicate project needs to your donors.

having a standardized system for creating budget will help you understand more the functioning for your organization, this make ask questions about some aspect of your organization, for instance think of how you could save money in some area or spend more.
our organization gain in confidence

The budget provides guidance as to which activities to implement in a particular time frame.

It is good to have a standardized budget system because when new people join the organization they can easily adapt and become useful for the organization.

Also comparability of all the work of the people involved.

Also, having a overal protocol on how to do things decreases insecurity and confusion of people doing the tasks

When we have a standardised system that records all our expenses, it will be beneficial because the project knows all its costs (direct & indirect), and plans directly how to merge control these. For programming and operations, the financial records through budgeting will help Marie Stopes Sierra Leone plan effectively on an annual basis all activities and their costs. This informs donors of our capacity to pull resources together and merge our costs accordingly. Thus, streamlining our expenses according to "cost centres" will help us monitor the way we are spending as opposed to what is available. And as such, we will deliver on our donor commitments all what we have promised, with money being less of a burden to us.