Florida International University Budgeting for Financial Control Questions

Question Description

I’m working on a psychology question and need an explanation and answer to help me learn.

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.

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