2nd Paper

2nd Paper

Nature of Budgeting Process

The most common approach to budget at Tesco is participative as apposed to a dictated approach, otherwise known as top-down budget at Tesco. By definition a budget at Tesco quantifies future financial plans and budget at Tesco is the process of mapping out how the company resources under the control of the budget at Tesco manager will be used. A firm grasp of financial concepts and specific organizational knowledge is required to prepare the budget at Tesco. This preparation can take many weeks or months and requires communication and coordination of activities among different departments or ...