Attached. Please let me know if you have any questions or need revisions.Running Head: OUTLINE-BUDGETINGQuestion 1: Responsibility Accounting in Budgeting•This section of the paper describes the term responsibility accounting.•It also provides some of how budgets are used to align organizational goals providing anexample.Question 2: Advantages of Budgeting over its Disadvantages.•This section of the paper explains how the advantages of budgeting outweigh thedisadvantages.1Running Head: BUDGETING1BudgetingNameInstitutional AffiliationCourseDate2BUDGETINGQuestion 1: Responsibility Accounting in BudgetingAccording to Biswas (2017), responsibility accounting is a system of accountingresponsible for collecting, summarizing, and reporting accounting information that relates to themanagers’ duties. It is also described as a system or method in management control focused ondelegating authority values and allocating responsibilities. This system mainly assists with theplanning and management of responsibility centres of a company. Besides, it is not only amonitoring tool but also b…
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