"Budgeting Time"

Budgeting time Name Course Professor Date Budgeting time In order for an organization to attain its objectives and goals it has to come up with a comprehensive budget. A budget comprises of measurable operations plan that specify the resources that will be required in the process. In budgeting, a plan has to be made. Two major constituents of a budget include the financial budget and the operating budget. Human resource budgets fall under the operations budget. This budget accounts for the use of resources in carrying out activities. Human resource budget has to take into account all labor cost components. These include salaries, social security fees, salaries, expenses and reimbursements, transfer and travel allowances (Blocher 1998) . Each human resource project therefore has to be properly budgeted taking into account all these variables. It takes time to plan for a human resource budget in order to avoid instances of under-budgeting. Before budgeting for a human resource project, it is necessary to conduct proper research and development. This should be included in the financing and budgeting of a human resource project (Horngren 1999)....