Question:
(Continuous budgeting; writing) You own a small boat manufacturing company. At a recent manufacturers' association meeting, you overheard one of the other company owners say that he liked using a continuous budgeting process. Discuss in a report to your top management group what you believe are the advantages and disadvantages of continuous budgeting for your company.
(Research; writing) Find the Web page for a charitable organization that operates internationally as well as domestically.
a. Prepare a list of activities in which this organization is currently involved.
b. What would be the greatest challenges in budgeting for such an organization?
c. Do you think not-for-profits should be as concerned as for-profit organizations with budgeting? Explain the rationale for your answer.