Budgeting Your Company into A Corner How Budgets Shackles A Company

Setiawan, Roy and Cavaliere, Luigi Pio Leanardo and Varma, Urvashi and Khan, Muhammad Adnan and Shastri, Manjula and Koti, Kartikey and Haleem, Athambawa and Christabel, G. Jerusha Angelen (2021) Budgeting Your Company into A Corner How Budgets Shackles A Company. [UNSPECIFIED]

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Abstract

The concept of budgeting has been the subject of debates between scholars in the business world for decades. This paper tends to shed light on the definition of budgeting. It impacts whether it be positive or negative on a company, the numerous purposes of budgeting and how the concept has evolved throughout the years in a unique way that has never been tackled before. Various scholars and business minds have contributed in the development of this concept for it to reach a point where it was once thought as an essential part of every company whether it be a large multinational company or a small family-owned business; everything needs to be budgeted for from the first screw used to the planned expansion into new markets, and even the yearly objectives of employees. This paper will evaluate the purposes of a budget while clearly stating the limitations of each one of them and providing primary and secondary data and research, along with interviews with top financial managers with years of experience to back up the hypothesis provided.

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