The Budget For An Organization Essay

782 Words Feb 25th, 2016 4 Pages
Challenges The entire class was not simple and did not come without challenges some weeks. One of the biggest challenges that I had was with the budgeting assignment. I did not realize how many different parts there are for a budget for an organization. The simple line item budget, we did does not even include all that would be involved in producing a full budget for the organization. The financial part of an organization has more parts than just the cost of supplies and wages paid to the employees. The financial management process actually includes three different parts which include resource acquisition, resource disposition, and resource reporting (Lewis, Packard, & Lewis, 2012). There is not a simple budget that shows all of the income sources and what is going out, in many programs, there are multiple budgets that have to be taken into consideration to make the program be successful. When we had to make our line item budget which is one of the simpler budgets, I faced a challenge due to I can do a simple personal budget, but when it comes to a more complex budget that includes so many different components it scared me. Budgets were not the only challenge I had in the class, the other challenges I had I will discuss next. Another challenge I was met with besides the budget assignment was the organizational design and organizational chart. After completing both of those items I have a much better understanding of how an organization has to have a solid…

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