Acc 556 Week 9 Assignment Budget Planning And Control

Assignment: Budget Planning and ControlNameTutor’s Name11/08/2016Benefits of a realistic budget to the owner of Babycakes versus having no budget at allRealistic budget gives the owner of babycakes control over her money. A budget is an intentional way of allocating money to be spent on various activities; it helps the owner to keeps you focused on money goals and avoid spending unnecessarily on items and services that do not contribute to attaining the financial goals. For example with a budget, the owner can plan for and purchase only enough materials for the budgeted number of Velvet cakes. Babycakes owner also benefits from budgeting as a method of a method of allocating and using resources, monitoring and controlling operations, promoting forward thinking. Within the area of personnel and management Babycakes owner benefits ae budgets help to co-ordinate different departments and align them towards common objectives, motivate employees by showing an overall picture of the direction of the Babycakes is taking and serves aas a framework for delegation. A budget also serves as an early warning that alerts the business owner when