First of all, the planning function in terms of budgeting refers to the planning activities that the company, starting with the financial department, needs to (1) determine what the company's long-term strategy is, (2) determine what projects bring most added value to the company and (3) determine what priority these projects should have.

Let's refer to each of these steps in part and determine how they impact the budgeting strategy of a company. The long-term strategy for a company is essential in determining the overall objective of a company. For the long run, this may be increasing the volume of sales or increasing the market share or promoting the company's image. In any case, these differ in terms of the projects they will imply and the ways they will be affecting the budgeting strategy.

For example, increasing sales will perhaps only include in

The argumentation we have previously presented practically comes forth so as to demonstrate the close connection existing between budgeting and budget planning and the company's overall planning strategies. Indeed, the budgeting policies serve to help the company fulfill its long-term plans and projects, as well as short-termed ones. In this sense, the company planning strategy needs to be fully correlated with the budgeting planning, otherwise there will be no financial support for those plans.

creasing spending on advertising and the promotion budget, while promoting the company's image may include costly promotion campaigns that will have a significant impact on the company's budgeting management.

This is where the selection issue, corroborated with the budgeting strategy comes in the game. The top management, working with the financial department, will need to establish which are the projects that bring highest added-value to the company and spend the company's budget on those alone.

Among the management functions we already know about we can also include the budgeting function because, in my opinion, all the others cannot properly function without i

Some common words found in the essay are:
, planning function, budgeting planning, budgeting strategy, projects bring, terms budgeting, projects bring added, promoting company's image, function terms budgeting, bring added value, budgeting refers, financial department, terms budgeting refers, promoting company's, strategy company, company's image,
Approximate Word count = 789
Approximate Pages = 3 (250 words per page double spaced)