Assignment 2: budget planning and control

Due Week 10 and worth 160 points

Use the Internet and / or Strayer databases to research budget planning and control. Imagine that the company that you currently work for, have previously worked for, or would like to work for in the future has tasked you with preparing a budget plan.

Write a three to four (3-4) page paper in which you:

1.     Describe the company that you currently work for, have previously worked for, or would like to work for in the future. Determine at least two (2) compelling reasons that this company should prepare and manage a budget. Predict the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

2.     Outline a high-level budget plan for the company. In your high-level budget plan, recommend the most appropriate budgeting phases for the company.

3.     Propose two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Justify your response.

4.     Imagine that the company is facing a financial challenge that is causing the actual amounts of money that it spends to become significantly off target from its budgeted amounts. Prepare an action plan to resolve the budget misalignment. In your action plan, recommend at least one (1) budgeting technique to resolve the budget and actual discrepancies. Provide a rationale for your response.

5.     Use at least three (3) quality academic resources in this assignment. Note:Wikipedia and other Websites do not quality as academic resources.