によって ginna ramirez 4年前.
218
importance of costs and
budgets for the organization and its relation to decision making
importance of costs and
budgets for the organization and its relation to decision making
Produced by Ginna Paola Ramirez using the website: https://www.mindomo.com/es/mindmap/f298785c10a84338b9d1e9cdda87b4be
organization
Although companies have not implemented a budget plan from the beginning, it is always kept in mind when making decisions
with a well-developed budget, organizations can remain in a highly competitive market
the budget is very fundamental since it controls and plans the profits of an organization
advantages and disadvantages of budgets:
disadvantages
some admins take the budget very strictly, which does not allow new financial alternatives to be explored
requires commitment from all levels of the company for its proper functioning, which is not always possible
implementation is expensive and time consuming
advantages
allows clarity regarding the sales, costs and expenses that each department of the company must meet
provides financial information for the company to generate competitive results
allows to determine if the company has the capacity to develop the planned activities
budget is defined as:
allows better clarity in the economic conditions in a company in areas such as:
investments
Bank transactions
financial liquidity
indebtedness
It's a financial plan designed to guide the
businessman to get the targets of the proposed goals
involves materializing business plans in quantitative and monetary information
historical data is essential when making a budget
different types of costs
unit production
total cost
factory and non-factory
incurred
travel or replacement
investment
cost factors
indirect expenses
are considerable as free of control
direct expenses
there is a control by the company that repeals them
must be representative
must be quantifiable
must be identifiable
costs can be defined as:
the sum or effort used to produce something
the cost is recoverable at any time
the cost of giving up or sacrificing something to get
