Explain budget procedure with the help of flow chart. Write 2 benefit of budget procedure.

The budget procedure is an essential part of management that helps organizations plan and control their financial resources efficiently. It involves preparing a detailed financial plan that estimates income and expenses for a specific period, usually one year. This procedure enables managers to allocate resources properly, monitor financial performance, and make informed decisions.

The budget procedure typically follows a systematic process that ensures all necessary steps are taken to prepare, approve, and implement a budget. The process involves various stages, which can be explained with the help of a flow chart.

### Budget Procedure Flow Chart

1. Setting Objectives
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