In your own words, explain what a budget is and why it is important for a business to have a budget.

DQ1

Assessment Description

In your own words, explain what a budget is and why it is important for a business to have a budget. Participate in follow-up discussion by adding additional elements or additional rationale to those of a classmate.

DQ2

Assessment Description

Budgets are developed months before the end of the current year and are best guess estimates of future performance. What do you think might be some pitfalls of budgeting, and how can they be avoided? In your response, consider also discussing the various time frames for budgets. Participate in follow-up discussion by adding additional elements or additional rationale to those of a classmate.