Budgeting Process in Accounting Information System

Budgeting Process in Accounting Information System

Budgeting Process in Accounting Information System

Budgeting Process in Accounting Information System:Accounting information system is a method where accounting data is collected, stored and processed for the use by the organizations’ leaders. All the date connected to the accounts of the company is tracked for internal and external uses. Internal means, those who are in the organization while external means, other parties that are connected to the company such as creditors, investors, and the tax administrators. Budget process, on the other hand, refers to the manner in which organization builds its budget. The main reason organizations develop budgets help in the attainment of goals by forming a relationship between the finances and the expenses. (Wildavsky, 1986, p.73). The paper, therefore, seeks to consider the process especially in the accounting information system.

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For the purpose of coming up with an appropriate budget, the budget process must be conducted in a thorough manner. All those who deal with the company’s accounts must be included because they deal with the most important element required to create a budget. A budget helps a company to develop goals for business plans.

References
Wildavsky, A. B. (1986). Budgeting: a comparative theory of the budgeting process. Transaction Publishers.

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