Public vs. Private Sector
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Describe and discuss differences that are apparent between government and business budget making? Are there any similarities in their profit motives? Please provide at least two examples to support your perspectives. Respond to at least two of your classmates' postings.
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Solution Summary
This solution discusses the differences between private and public sector budget making. The profit motive between the two types of entities is also discussed.
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Describe and discuss differences that are apparent between government and business budget making?
The main objectives of each type of budget making are different. In the private sector, budgeting is completed with the goal of reducing expenses. The greater those expenses are reduced, the greater the chance for making a profit. Companies have to keep their expenses reasonable or else it also creates a working capital shortage, which is a detriment to profitability. Management is then forced to seek out alternatives in order to cover the working capital shortfall, ...
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