is that true about an accurate budget is essential to an organisation's success?? plese explain.?

Answer 1

nah, just spend the money till it's finished then get a new loan from the bank. Rinse and repeat and you'll be going with the flow.

Answer 2

No business can survive without intelligent accounting (or, for that matter, accountability!). A plan for success must include an intelligently organized budget.

These days, you will not be able to get a business loan, unless you show your bank and/or investors how you intend to use their money.

With expenses going to mortgages or rent, employees, furnishings, machines/appliances, stationery and associated items, utilities, printing costs (business cards, professional leaflets/notebooks, etc), insurance, and food (ya gotta eat!), just to name a few things off the top of my head, you'd be a complete fool not to have a well thought out budget!

Good luck! And don't forget to include my time and effort in the budget you present to your Business or Economics professor for this homework assignment! ; )

Answer 3

Of course it is. If you have a budget of $100,000, and you are spending $75,000 on salaries and $50,000 on overhead expenses, you can bet that your business is well on it's way to tanking.