Benefits of Involve Multiple Parties at Multiple Levels in The Budget Preparation Process Essay

Description

Many researchers praise the benefits of participative budgeting. Is it wise to involve multiple parties at multiple levels in the organization in the budget preparation process? Why or why not?

Embed course material concepts, principles, and theories (which requires supporting citations) along with at least one scholarly, peer-reviewed reference supporting your answer. Keep in mind that these scholarly references can be found in the Saudi Electronic Library by conducting an advanced search specific to scholarly references

.For Your Success

In this module, it is important to follow the order in which the various budgets are prepared. Some of the numbers from one budget flow through as a starting point, or material part, of another budget.

Make sure to read all the assigned readings this week and complete the Check Your Understanding activity. We have a Discussion Question this week that covers whether it is wise to involve multiple parties at multiple levels in the organization in the budget preparation process. Review the assignment early in the week and contact your instructor if you have any questions or concerns.

Learning Outcomes
1. Explain the purposes of budgeting.
2. Explain different approaches to budgeting.
3. Prepare the master budget and subsidiary budgets.
ReadingsRequired:
- Chapter 8 in Managerial Accounting
- Libby, T., & Lindsay, R. M. (2019). The effects of superior trust and budget-based controls on budgetary gaming and budget value. Journal of Management Accounting Research, 31(3), 153184. https://doi.org/10.2308/jmar-52238
Recommended
- Chapter 8 PowerPoint slides SEU_ACT500_Module07_PPT_Ch08.pptx – Alternative Formats in Managerial Accounting
- Weiskirchner-Merten, K. (2020). Interdependence, participation, and coordination in the budgeting process. Business Research, 13(1), 247274. https://doi.org/10.1007/s40685-019-0090-x

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