Florida International University Budgeting for Financial Control Questions

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Budgeting for Financial Control

Program development involves learning and understanding the major principles and models of budgeting. Budgeting for financial control of a human services program involves making decisions about managing the budget, including selecting the appropriate method based upon how the program is structured.

Please respond to the following:

• Explain the concept of financial control.
  • Describe how the financial control purposes of budgeting deals with the relationship between revenues (inputs) and expenses (activities).
• Identify the three major models of the budgetary process.
  • Describe the similarities and the differences within the models.
• What are the three principal purposes of budgeting? What are the three major corresponding budgeting systems?
  • Describe the similarities and the differences between the three.
• In your opinion, should small nonprofit organizations hire outside consultants to help them with budgeting issues, or should they develop their expertise in-house? Use your text or other professional resources to support your answer.