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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.

Having a valuable system for creating budgets, helps in easy allocation of funds, enhances good planning and implementation of projects. This benefits cannot be over emphasized. One of the key elements needed in the smooth running and implementation of any prroject is budgetting.

It is valuable to have a standardized system for creating budgets because it helps you avoid unplanned expenditures,
It helps the organization to be able to know how many projects it can start.

The issue of budget can not overlook in every organizations because it creates opportunity for accountability, transparency, and smooth running of every projects, programs, and even the functioning of the organization.
At Phyta Educational Foundation which is a small organization we do not have an actual annual budget but rather a programs driving budget each program has it own budget. We never thought of having an annual budget. With what I am learning now..... I sure we will have one this year.

In my opinion, the main purpose of a budget is to catch any spending issues early that may arise due to slippage or overspending. An overall budget will help the administration keep track of and make sure that all program financial needs are addressed.

A standardized system for budgeting is vital to keeping the organization on the right track aligned with the goals of the program. In addition, it is beneficial to the program to make sure each cost in the initial budget does not fall in the red or negative category. Creating a spreadsheet and/or a system of accountability, the non-profit organization is beneficial to keeping with the beginning budget and all costs associated within that budget.

A standardized budget allows the staff in the whole organization to be conversant with the budget process

Budgeting as a whole helps organisations know their overall expenses and puts them in a better place to submit proposals that are productive. Having a standardised budget on a whole helps you gather all the costs for effective functioning of an organisation. This means capturing all expenses in terms of project implementation, administrative and overheads among others. This will further increase the organisation's ability to develop standard budgets from time to time for specific funding activities and ensure that the right costs are charged to the correct finance lines.
Thus, budgeting in an organisation makes it efficient in knowing its costs, allocate fairly the right sums of money to specific projects, and at the end present a better financial report to donors.

This is a good way to improve the efficiency of a company. In order to having this result, I think the zero based budgeting to be used first for getting a good method to be implemented. Then, can use bottom up budgeting in order to get the best way to use to compliant the method and people for getting the best efficiency.

it gives a sense of clarity and empowers your fundraising stratey

The Budget helps to control the finances of the organization and also helps to provide an estimate of the expenditure and anticipates the income revenue of the organization.

Having a standardized system creates room for future reference and consistency.
It makes it easy for progress to be measured.
Creating a standardized budget system for my organisation will enhance focus on the organisation's set goals.
It will minimise wastage of resources and results will be easily achieved

The importance of budgeting is to allocated the right resources in the right place for maximum efficiency and avoid extra cost or burning your money. Every organization need money to survey but if you do not handle this in the right ay could increase the cost of your operation and end in a company closure.

Budgeting is very important in any organization whether in profit seeking or non profit seeking for example the budget has a benefit in the following areas:
1.The organization will now what actual revenues and expense will be

2. The organization can reduce its costs and increase its revenues if it made correct budget for he organization
   3.Every department in the could prepare its budget, and will participate in budget preparation process.
3. budget preparation will made the organization realistically aware off the market.
4. budgets can be a base for comparing with actuals .

Budge is very important for:

1. planning for short and long-term goals of the organization
   The can organization could be able make efficient plan for its revenues and expenses for reaching for both its short term and long term goals.
2. Controlling: the organization could be able to control its expenses and revenues according to the budget lines.
3. Decision making: when compared actuals with budgets each organization can make corrective actions for the future.
   To have standardized decisions, the organizational objectives-whether long term and short-term- can be facilitated, actuals can controlling with budgets and finally proper decisions could be made.
   I n may organization, the budgets are prepared, and it served the benefits mentioned above.

Having a Standardized system for creating budgets would allow better management and control over the use and distribution of resources (optimization). This would also allow a reduction in time when analyzing them.
Having a transparent budget gives clarity about the scope that a project may have, the limitations and allows to focus economic efforts more effectively. It allows making assertive decisions about the objectives and/or the goals to be achieved in a realistic way.

A standardized system ensures predictability and also reduces the likelihood that we are missing something big — this, in turn, will improve our ability to forecast, ask for what we need, and keep all stakeholders informed about the current and projected state of our organization's finances. In sum, this will create confidence and reduce stress in the face of uncertainty.

Budgeting should have clear guidelines and have people specialized and working with it on regular bases. If the budgeting process is the same for all the projects, it facilitates the follow up of the numbers.

Having an adequate budgeting system organization helps in securing proper funding for the functioning of the body. It helps you to know exactly what is needed, and how much it will take to acquire it. Additionally, it helps the organization to better track what is spent on a week by week/ month by month basis, which gives the organization a uniformed credibility as it relates to seeking funds from donors.

Creating a standardized system for budgeting is necessary to secure the budget required for projects. As budget by itself is a scarce, then creating a standardized system of budgeting is valuable for effective utilization of it. Additionally, it is also valuable to convince the donors by providing well articulated budget systems as it creates transparency of resource utilization.

Dear Laura Ruiz Zorrilla,
Yes budget should have clear guidelines. But is that possible to make the budgeting process the same for all the projects, and if so, would we be effective in that way?

Dear Laura Ruiz Zorrilla,
Yes budget should have clear guidelines. But is that possible to make the budgeting process the same for all the projects, and if so, would we be effective in that way?

Budgeting is very important in organization because it helps the organization to know the profits and losses made in the organization
It helps to allocate the right resources in the right place for maximum efficiency avoid expenditure
It helps to ensure you that you don,t spend you don,t have
It helps to leave a happier retirement you spend your money responsibly

Normally, To create a budget it is essential to understand well that one wants, thus allocating such a budget to such a project. a standardized system helps better in creating an overall budget, so you don't risk omitting or separating an item that should be part of the project. In fact, when the headings are totally defined in relation to the determined project, it is easier to allocate the resources to their respective uses and thus to respect the optimal budget line. In my organization, I am in finance and we organize the budget from specific headings including product accounts and expense accounts as well as for the entire organization but also we have a sub-budget for each program that is not detached from the global budget.

Having a clear budget in a company helps to get rid of unnecessary cost and wastage of money, also it influences transparency and credibility.
Most institutions generate a budget when in need of funding because clearly it cannot be given money without it giving a prove of what it wants to take that funds to or to use for what purpose.

Organizing and categorizing budget helps prevent leaks and project failure in terms of achievement

Improved coordination of expenses in organization with many programs being implemented simultaneously

While following a standardised budgeting, a company can improve its productivity, efficiency and profitability. In my organisation, we are preparing quarterly budget which helps us to improve a lot in our business. Through a proper budget plan, employees are more focused on the budget requirements and don't fall in any other shortcuts. Therefore we get a qualitative products and feedback.

Having a standardized budgeting system helps to control all costs of the organization, the organization will get the clear picture of their financial activity, the organization can reduce unwanted costs and the organization can use their income perfectly

A budget helps the organiation to know how much money is needed and how to spend it. this way will help the organization to spend money wisely and stay on track by avoiding unnecessary expenses. through this module we have learnt how to incorporate different part of a budget so that one can convince funders and have their project funded

As many contributers said, budgeting is the key to have a clear path for your organization. A path that defines the areas were you can grow and the areas where you need help to grow.
The three tipes of expenses are very useful to wee the organization budget as a whole.

For new and young organizations, it is important to have a well-defined process so that the organization not accidentally overspending the limited money they have. As an organization grows, it is important to stay organized early; that way, all members of the organization can see how and where each dollar is going or needs to go in order for their optimal success.

it's valuable because its give us the clear understand of about expenses may we have to incurred during the project. Some time's this is so much critical you can lose you grands.

The case study above teaches us to understand all the expenses of the programs within the organization. Once you understand your programs you ca clarify to your funders and partners how much you need. One must classify or group the expenses of the programs of the organization.

Having a standardized budget helps with achieving project set goals, taking into consideration all key players involved in achieving the deliverables.

budgeting helps us to estimate the costs required for the completion of the project

Its good to understand the program and have the standard system for budget for the organization to know the exact costing & Spending

Just as he stated and i quote ''until you have a sense of the financials, it is very difficult to know whether you can achieve your plans''. In my own opinion as deduced from the case study, the sole aim of creating a budget is to have sense of the expenses involved, thereby knowing if the plans can be materialized.

2. The reason to have a standardized system for creating a budget is for clarity sake. The value is to have organized knowledge of what the cost is about, which will give the funders a full idea or knowledge of what the funding is all about. This on the latter fosters trust, transparency and reliability before the NGO and the partners/funders.
3. The benefits attached to have a system of organizational budgeting is simply to organize cost.

This would aid proper planning for the organization, avoid loss of money due to un budgeted for items or due to misclassification of budget items.

the budgeting system is important , why? because if we cant handle that correctly our organization fell as well as 2008 stock market .

correct your word is absolutely
correct

Budgeting process needs to be handled carefully and by all members of the organization. This creates understanding by everyone in the organization and will improve transparency and coordination.

Budget systems acts as internal controls systems to maintain checks and avoid unplanned expenditures.
Equally it serves as a statistical tracker for comparison with future periods.
It also serves as targets thus giving the implementers an extra drive to meet them.

Having a Standardized system for creating budget helps the organization to monitor its budget expenses thereby, enhancing an awareness of an increase and decrease in budget expenses hence making SMART decisions on how to utilise the budget within the target(s) and therefore achieving the goal(s).

A well defined budget helps the organization better strategically plan for future goals, objectives and funding opportunities to advance each particular goal.

It's very important to create a standardized system of budgeting since it allows to follow the finances of the organisation and avoid bad surprises. very interested the categories shown in the case study as it may apply to many other different organisations

It is required to have a standardized system of budgeting then ensure that, the organization monitor all income and expenses, during the course of any projects.

The main purpose of budgeting is to have the clear detail of all the expense of the organization,all integrated in one,thereby streamlining all unnecessary spendings.

Having a standardized budgeting system will help ensure clarity. Clarity of expenses relative to income. Budgeting will help to ensure that there are no leakages or wastefulness of funds or resources. For a organization that has system of budgeting it will be beneficial to such organization in terms of not over utilizing their funds or resources or under utilizing their funds or resources. Having a system of budgeting will help managers to properly analyze and use budgets reports and trace the area where there are some errors or omissions.

Having a

It will be valuable to have a standardized system for creating budgets in order not to lose too much amount of money that is avoidable

BENEFITS:

1. A budget forces you to map out your goals, save your money, keep track of your progress, and make your dreams a reality.
2. It will make you know exactly how much money you earn, how much you can afford to spend each month and how much you need to save.
3. Budget helps you to be aware of the unforeseen (Emergencies)
4. Budget helps to curtail unnecessary spendings

There are a lot of benefits from creating a professional system to manage budgets across all projects in my organization , I will mention some of them in the following:
1- Establish s separate budget save all project from suddenly closing because misuse of funds.
2- Give the donors a clear view about the process of expenses for budget which give us a trust view from the donors.
3- Establish a clear system for budget give trust and transparency from the community and governmental authorities.

Budgeting allows us to create a spending plan for our money, through the budgeting we can ensure that we always have enough money for the things we need and the things that are important to us, and we can plan our areas expenses as per budget. Planning budget gives us approximate picture to give shape our project and project expansion. Through the budget planning we can identified the coming expenses.

It's help managers to easily make decision

Budget also help in knowing the expenses of the organisation

Budgeting compels and motivates management to make an early and timely study of its problems. It generates a sense of caution and care, and adequate study among managers before decisions are made by them. 2. Budgeting provides a valuable means of controlling income and expenditure of a business as it is a “plan for spending.

Having a budget allows for the controlling of costs and the efficient allocation available resources to the various projects and operational activities.

with well defined operation budget, project implementation is effectivitely carried out for the achievement of the targeted objective of the organization

having this kind of system in can gives the organization a good budgeting system and they can also control all the activities in the organization especially to the cash inflows of the organization. also, by having this system they can ensure that they are doing the right step. the organization would gain more effective budgeting where they can see all the possible budgets are

A standard system is also helpful to non technical / non financial people to understand. Creating different designs, formats, and systems is time taking process and needs every time a special effort and attention to understand.

Why would it be valuable to have a standardized system for creating budgets? In addition to the benefits that Dr. Gourh has described, what might your organization gain? If you have already created a system for organizational budgeting, what benefits have you noticed?
ally, always remember to check your projections after the accounting period begins and before the next accounting period begins. Did the cash inflows you had projected actually arrive on time? Were your cash outflow projections.

If we have a clear concept about the organization type and activities. then we can have a understanding of what type of standard is to be maintain while budgeting, and of course a standardize system for creating budget would be very effective to minimize all possible wealth missuses and at the same time ensure the supreme utilization of the recourses.

Your explanation is one of the best for people to follow to understand what budgeting is all about.
It summarizes the basic fundamental ideas about budgeting.

To come up with a standard system of creating a budget for an organization, it all comes to first knowing the exact amount of money the organization is having a fund, after which you can design your budget.
The costs for all expenses against the income and see if the organization or projects or programs are running way considering your draft if not, making adjustments is always the best approach.

Summing all the expenses for programs, overhead expenses and shared program is the only sure way to know how much you're spending within your company or organization.
Proper coordination of such channel gives way for proper allocation of funds in the right channels.

Why to standardized your budget in an organization is the same as why we consider budgeting at our homes.
First, to know where our incomes are gonna come from and where they will go.
Second, helps to account on how we spend our money.
Third, to show progress as the result of our spending and cashing.

Collating budgets from other independent departments within an organization comes with transparency in order to get at least an estimate even if not the right amounts.
Meaning such needs a real coordinations, it needs someone who's very good at getting people feel easy working with them.

The purpose of budget allows you to prevent unnecessary expenditures and prepares you for a better savings.

The main purpose of budgeting is to allocated the budget for prioritize the activities to be performed at the organizations

Setting up a budget process can be useful for several reasons. It allows you to really know the costs borne by the organization and to be able to anticipate in the future the necessary adjustments for future projects and activities.

Organisational budgets help you know how much you need to execute your project and to later analyse how cost effective you are.

I believe it is important to track all expenses. Many times, executives under-estimate expenses that they are incurring, and that loop hole means you there is a under-estimation of what it takes to run your organization.

It is important because will help an organization to control money available and to reduce leakage and loss. However, a good budget will help the organization during the auditing and financial report.

standardized budget systems aid in effective monitoring of organisations budget reducing excesses and losses.this will inturn improve the integrity of the organisation and project efficiency.

Actually budgeting is a key to meet the targeted objectives set by the company. it is helpful to plan for the activities that will be done in the future in advance. moreover, companies prepare budgets in order to measure their performance after implementation.

It is paramount because it serves as a guiding tools and the organisation will benefit because having a well defined budgeting process in itself serve as a control measure.

A budget helps you figure out your long-term goals and work towards them. A budget forces you to map out your goals, save your money, keep track of your progress, and make your dreams a reality.

Benefits noticed after creating organizational budget;
manage your money effectively.
allocate appropriate resources to projects.
monitor performance.
meet your objectives.
improve decision-making.
identify problems before they occur - such as the need to raise finance or cash flow difficulties.
plan for the future.
increase staff motivation.

having a standardized budgeting system saves on time and resources that would be otherwise wasted in trying to reconcile conflicting budgets from devolved units . It gives clarity and makes it easier for auditing and reviewing.

Budgeting allows for a methodical comparison of projected and actual results, as well as the coordination of future actions and the formulation of reasonable goals. It is a useful management tool with the following advantages: It specifies the amount of time that must be spent in order to maintain financial management. Emphasizes cash flow issues, financing requirements, and so forth.

A budget is first so then we have some steps likes to do some questions to obtain real answers to the project.

It is important to have a comprehensive budget for the organization since this will facilitate effective and efficient allocation of funds to various cost centres or activities of the organization. It also helps the organization to know beforehand, how much funds that should be raised for smooth running of the organization.