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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.

A good standardised bugger-ting system makes it easier to identify fraudulent activity during audits

Standardized system for creating Budget, allows a smooth planning and management of resources. It brings about clearity and transparency, saves time and ensure the effective running p
of an organization.

Using a Standardized system, brings about planning for resources,it allows clearity, transparency. It saves time and ensure effectiveness. It will protect the organization from wastage of resources.

Budget is a tool through which we can identify the type and amount resources that an organization needs to accomplish its objective.

Budget is a tool using which an organization can estimate and identify the type and quantity of resources it needs to accomplish its objective.

Budget is a term that often organizations come across when they need to plan and implement a project activity. Any donor funding for organizations is limited and a proper and planned budget is required to convince the donor to access this funding. In some cases, as businesses, budgets can also include the money that the organization is going to generate. In another sense, budget is all about planning your expenses and saving your costs.

In order to improve the efficiency of you business in during up your budgeting plans
you need to prioritize your spending and focus your money on the things that are most important to you.

A standardized system for creating budget helps one to plan, account for every expense incurred in the organization and come up with an estimate value that the organisation will be working to achieve.From the case study my organisation will gain in accounting for all shared costs as i have learnt it should be included in the budget.I will also be categorizing all the expenses.

Having a well-defined process for budgeting is important to achieve the organizational goals. It will help plan and acquire the needed funds, limit and control the expenses and avoid losses while achieving the targets. A well-defined process will help us to effectively compare and evaluate the budgets every year with other departments and most probably with other organizations.

A comprehensive budget capturing recurrent and capital expenditure of an organization ensures accountability and also helps the organization to properly manage it's programs with the required finances.

A standardized budgeting system is imperative for our organization to plan and prepare for the year ahead. It gives clear boundaries for cost allocation and allows team members to clearly understand the financial goals and the direction the organization is heading.

A standardized budgeting also makes it practical to develop, build and transfer skills within the organization.

It would be interesting to have a standardised system for creating budgets because it would allow us to better estimate our project budget; to include the costs of shared programmes in our budgets.
Our organisation could benefit from the implementation of new budget development methodologies; more clarity, transparency and better understanding of donors and partners of the budget development process.

The purpose of a budget is to simply plan for resources.

A standardized system for creating budgets reveal important since it can allow management to track the performance of an institution compared to a single foecast of future results. It enuress that the organization has funds for every project that is important for it.

I see it is very important to have a standardized system for creating budget because if you don't have a standardized system for creating budgets you won't know the priorities of your expenses and also you can't measure your performance.

Creating a standard budget system help Program manager to have the general picture of what is going now and will predict what is going to happen in the near future and at the same time it will help to manage and be able to detect where there is need to put more focus.

You can't share what you don't know to donors or funders unless you know what to share. But through centralizing your budget management is very creative and managerial tools for internal and external benefits.

i believe its some standar

i think its wonderfull

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.