论文代写：Need for the abandonment of Traditional Budgeting System
A budget forms an important element in the financial analysis for the organization, state or country. Determination of the overall budget is another important function which is necessary to be identified. It is necessary to have a systematic analysis and the interpretation of the financial statistics (Otley& David, 2001). It is therefore necessary to have the complete analysis of the budget in order to know the present market situation, and the applicability of the resources and their effectiveness. In order to make an effective decision making process in the terms related to the budgeting and financing there is a proper need for the resources and the information which is related to the process of decision making.
Traditional Budgeting System
Need for the removal of the traditional system of budgeting
According the CEO’s of the major companies in Europe the traditional system of budgeting has been recognized as ineffective, time consuming and inefficient for the organization. Thus there is a continuous voice for the abandonment of tradition system of budgeting. In the present market scenario, it is necessary to have an adaptive planning approach in order to analyze the budget for the future course. A number of problems and issues have been identified with the traditional system of budgeting system. The three primary problems which are associated with the traditional system of budgeting are: