discuss issues relating to ethical considerations for budgetary forecasting and projections. Expand your answer to explain...

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Accounting

discuss issues relating to ethical considerations for budgetaryforecasting and projections. Expand your answer to explain measuresof how you would give strength to your budgetary assumptions andprovide reliable forecasts

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Budgeting is used for preparing budgets and other procedures for planning coordination and control of business enterprise A budget is a financial and or quantitative statement prepared prior to a defined period of time of the policy to be pursued during that period for the purpose of attaining a given objective Forecasting provides a logical basis for preparing the budgets The actual performance of the past the present situation and likely trends in the future are considered while preparing budgets Ethical considerations for budgetary forecasting and projections Honesty is an ethical principle at the heart of the budgeting process If the financial processes are clear accurate and transparent they will provide you with the tools and information necessary to determine the best way to allocate your resources in ways that are consistent with the companys values In contrast fudged numbers are usually the basis for dishonesty and fraud Ethical budgeting is built on the assumption that treating people well is worth the money that it costs and ultimately pays for itself by earning the loyalty of employees and customers Ethical business budgeting steers clear of situations that involve conflicts of See Answer

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