Please respond to the following people in response to their discussion post:
Response 1: This has been an outstanding discussion thus far, and it appears that a solid understanding of budgeting and its implications has been achieved. There were several points made that I particularly enjoyed. First by Kelly & McGowen (2012) that, “businesses budgeting from the top-down means that top managements assumed they have better view of the overall financial aspects of the business, and they make all the decisions without any inputs from middle or supervisory managers.”
In this case, budgeting in particularly involved with the way that money is spent. But it is broader than that. First, you must know “where you are going” or the tasks that you intend to accomplish. Then, once you know that you would determine how much money you would need to accomplish that objectives. So, budgets do not start with money, but rather what you want to do first. Then, budgeting centers around obtaining and devoting those resources to obtain you chosen direction or goals. Question: how would you determine whether you have the appropriate budget to ensure that you can accomplish your objectives or goals?
Kelly, M., & McGowen, J. (2012). BUSN 4. Mason, OH: