A budget is a framework that sets a vision and provides managerial guidelines for spending public monies. Concern among the public sector is the demand for public organizations to be transparent about their budgets and spending habits.
What happens when accountability is absent from a budget? How are for-profit companies different from nonprofit or government agencies in how financial progress is measured? Why should organizations establish internal controls?
In order to answer these questions, you will address the following in 2-3 pages:
-Define accountability and how it is measured in public organizations.
-Define how financial progress is measured
-for profit
-non profit
-government agencies
-Summarize internal controls: discuss why they are important?
-Provide a hypothesis on how these definitions answer the questions above.
-Be sure to reference all sources using APA style using 2-4 sources.
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