Finance is what keeps the business running. Therefore, it is expected to be wrong if we call the budget process the lifeline of a business. This process is the method of allocation of relationship finance. The company can outline financial and organizational goals in this budgeting process.
The importance of this process is for the company to broadly define the needs of the company, how to meet these needs, and to find out who will be responsible for meeting these needs. Accountability, clarity and transparency should be the distinguishing features of an organization's budgeting process.
When we combine strategic planning and performance measurement with the budget process, we intend to create a robust accountability system. Here accountability integrates basic elements such as planning, budgeting, implementation and evaluation. When the account concept is expanded, payment accountability is strengthened, along with an increase in account monitoring. When the account includes the purpose, direction and influence of the organization, the traditional system with monetary resources, the said system develops.
