2011年ACCA考试《F5业绩管理》讲义（73）
Chapter 6 Budgeting 1Chapter learning objectives
Upon completion of this chapter you will be able to:
§ explain why organisations use budgeting
§ explain how budgetary systems fit within the performance hierarchy
§ explain how budgets can contribute to performance management
§ describe the factors which influence behaviour at work
§ discuss the issues surrounding setting the difficulty level for a budget
§ explain the benefits and difficulties of the participation of employees in the negotiation of targets
§ explain how corporate and divisional objectives may differ and can be reconciled
§ identify and resolve conflicting objectives, explaining the implications of the conflict and method of resolution.
1 Purpose of budgets
1.1 Why do organisations use budgets?
A budget is a quantitative plan prepared for a specific time period. It is normally expressed in financial terms and prepared for one year.
Illustration 1 – Purpose of budgets
A frequently-asked question in formulating the corporate plan is ‘Where do we see ourselves in ten years’ time?’ To answer this successfully the firm must consider:
§ what it wants to achieve (its objectives)
§ how it intends to get there (its strategy)www.Examw.com
§ what resources will be required (its strategy)
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