Hi, need to submit a 1500 words paper on the topic Vitality of Budgeting Process and Financial Reporting. Structured planning of the fiancés in an organization covering the projected cash flow, costs incurred for administration, revenues generated and the taxes to be paid will help in meeting the objectives of the organization in a better way. It will increase staff motivation, keep the process transparent, and help a lot in planning for the future precisely (Budgeting and Business Planning, 2009). Sticking to a solid budget plan will and cross-checking whether the process follows it throughout the year helps a lot in identifying over expenditure problems before the issue gets out of hand.
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