Budgets are an essential aspect of any business as they help an organization to gain control of its finances. In case a business has a funding organization, the funders can keep track of the company’s monetary spending. When creating a reasonable budget, various steps must be followed to develop the best budgeting strategy. Consequently, ABC manufacturing company must consider this process when drafting its budget. According to Community Tool Box (2020), a business should include its projected expenses in its budget. In the case of ABC Company, it is evident that the company has listed its costs correctly. Their budget also contains the projected income, which is part of the budget-making process. Given that the president cuts the funding by 20%, ABC Company has given a rough estimate of the following year’s expenses.
An essential aspect of strategic planning in any company is the creation of a budget. The managers use these budgets to make decisions. The control of activities such as expenses and finance options relies on managerial skills applied. It is the manager’s responsibility to ensure expenses are not inflated as they may cause slack in budget operations. They ensure that budgets are developed and are within the targets of the company. In a budget, every expense needs to be justified. If the manager cites any unnecessary expense, the manager has the role of eliminating it as it is not justifiable (Graybeal et al., 2018). As in the case of ABC Company, there is a likelihood that the president cuts the budget by 20%. This may be due to some expenses not being justified. Also, the president is quite conversant with the company’s targets. If the budget made does not work within its parameters, he is entitled to cut the budget to meet its goals and vision. By doing this, the president shows good leadership and full control of the ABC Company.
A company that operates based on ethical considerations is responsible for ensuring the budget is based on those ethics. When making a budget, honesty is one of the moral principles that should be considered. Honesty is displayed when resources are allocated according to the interests of the company. When numbers are fudged, this shows a level of dishonesty in the budget. The ABC Company supervisor shows a certain level of deception when he decides to inflate the budget numbers for personal gains. Also, conflicts of interest are another ethical issue displayed at ABC. For instance, the supervisor increases the budget to accommodate his interests in visiting Las Vegas, claiming he has worked so hard. Skewing the allocation is dishonest and acting irresponsibly as a supervisor to ABC Company (Gartenstein, 2021). Indeed it is evident that ethical issues of honesty, conflict of interest, and responsibility arise due to inflating the budget.
In conclusion, there is no doubt that the budget-making process must follow specific ethical considerations. Given that the managers use these budgets to plan, it is their responsibility to keep track of what happens in budget making. They should therefore watch out for inflated budgets to avoid having a budget with a deficit. Protecting the image of a company is essential as most companies depend on funders to finance their operations. ABC manufacturing company follows all the processes of a fair budget-making process except that the figures are inflated, which tasks the president to cut the budget by 20%. This shows that the president has good leadership skills.
Community Tool Box, (2020). Planning and writing an annual budget. Retrieved February 22, 2021, from https://ctb.ku.edu/en/table-of-contents/finances/managing-finances/annual-budget/main
Gartenstein, D. (2021). Budgeting ethics. Chron. Retrieved February 22, 2021, from https://smallbusiness.chron.com/difference-between-accounting-costs-accounting-profit-26278.html
Graybeal, P., Franklin, M., & Cooper, D. (2018). Principles of accounting, Volume 2: Managerial accounting. OpenStax. http://firstname.lastname@example.org
Quality Research Papers
If you’re looking for an Essay writing service to help turn all of your hard work into a product that readers can appreciate, then look no further than our essay writing website. With a team of writers who go the extra mile, and customer support representative’s around-the-clock eager to assist you, we are ready to ace any exam or provide any posterity with what they need.
Top Assignment Writers
Our essay writers are experienced professionals who have the knowledge to write an essay about any subject matter in an interesting way while maintaining academic integrity. Our professional essay writers work day and night to ensure that you receive quality essays on time without any delay or interruption. With many years of experience behind us, our essay writing website is now led by professionals with extensive knowledge in various fields of study.
For any write my essay for me request, you will never need to worry about plagiarism or getting caught up in the stress of completing assignments when you use our professional services! Get started today by ordering your first paper from us and we'll give you 10% off!
24/7 Customer Support
We are available 24/7, 365 days a year to help you out with your academic needs! if you have any "do my paper" questions or technical concerns, simply chat with one of our essay writing customer service representatives via the Chat Window on the bottom right corner of this screen
Prompt Delivery and 100% Money Back Guarantee
These academic experts are distinct from most other essay writing websites because they have doctoral degrees and decades of professional experience in academia. And because they know how overwhelming college life can be, we waive all minimum deadlines so you can focus on studying without worrying about your assignment always hanging over your head.
Our Academic writers are confident and highly capable to take on any challenge ranging from a simple high school essay, question and answer assignment help, PowerPoint Presentation, research paper, dissertation, among others . However, we do not allow customers who abuse the free revisions privilege.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
When the world rushes and deadlines increase, it's hard to put your best foot forward. Essay-writing.com is here to help you with top quality essays on all topics, from history papers and engineering design descriptions to sociology case studies. For any write my essay for me request, you can count on a professional team of essay writers who are well experienced and researched in their field as they develop an original paper for you with 24/7 customer support.
Essay-writing.com is an excellent solution for all your problems regarding writing an outstanding admission essay. You don't need to worry about anything anymore because we will provide you with high-quality papers written by expert writers who know how to write professionally!
Paper Formats and Types
From time management skills to APA format citations; from MLA formatting rules for research papers; from college application essays where the stakes are high--all these aspects of academic life become clearer as we write it all down on paper! Essay-Writing.com is a professional essay writing service that provides students with well-researched, high quality essays on any topic and at any level of study.
Editing & Proofreading
Some of our clients prefer to write their essays themselves and have a third-party like Essay-writing.com proofread it for errors after they are done writing. We have a skilled team of editors who examine your paper closely, looking out for any mistakes that may lessen the appeal or effectiveness of the essay as well as make amends in order to better improve its overall quality before you submit it anywhere else! For all your editing needs, turn to Essay-writing.com
You work hard at your academics, and you should be rewarded, with a revision or modification for free on any order from a discursive essay , assignment to dissertation papers.