In our Week 5 reading we are introduced to the many elements of budgeting. Not all budgeting processes work well but the process, in general certainly has value. You and Emma began discussing the role of accounting in performance management last week. This week you are continuing your conversation and narrowing the focus to accounting and their role in the budgeting process. This morning Emma asked you what you think the benefits of budgets are at CM Tech and how accounting can play a role in maximizing the benefits derived from an effective budget process.
- In your initial discussion post share with your classmates what you feel are the most important benefits of an effective budgeting process and how the accounting department plays a role in making the budget process effective rather than destructive or inefficient. In your responses to your peers expand on your agreement or disagreement with the most important reasons they have shared and suggest additional actions the accounting department can take to support the efforts.
- Support your initial post with at least one scholarly reference.