What happens when accountability is absent from budget

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A budget is a framework that sets a vision and provides managerial guidelines for spending public monies. One concern with the public sector is the demand for public organizations to be transparent about their budgets and spending habits.

Diagram: Setting Budget Goals

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?

Define accountability and how it is measured in each of the following:

For-profit organizations

Nonprofit organizations

Government agencies

Reference no: EM133532901

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