Question

After building a budget- why is it important to follow it?

Answer 1

It is important to follow a budget after building it because of the following reasons :=

1. Budget is important to create business plans

2. It defines the objective of a business f

3. It helps managers to do better forecasting

4. It helps to make capital and revenue resources profitable

5. It helps in controlling income and expenditure of a business

6. It helps to solve every problem in the organization with a systematic and disciplined approach

7. It creates an environment of earning profits throughout the business

8. It helps to adhere financial discipline in the organization

9. It makes managers efficient and more responsible