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Budget is said to be a planning that the company does in the beginning of the financial year to estimate the various investments, expenses and the costs that are associated with the company Budgets once made give a guideline and instructions to the managers to handle, manage and control the various costs associated with the company. Budgets help the company in achieving its objectives, goals and the business performance targets. Once the budgets are being made by the company then there is no need for the managers and the team to take approvals for the various costs related to the various departmental functions. This essay will discuss on budgeting. It will give a critical review on budgeting. We will first discuss as what exactly is budgeting, how it is being done and why is it important for a company to get involved in the budgeting.
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