Business Finance Homework Help

I’m working on a accounting question and need an explanation and answer to help me learn.

Organizational budgets assist businesses leaders with awareness of expenditures and managing resources. Businesses use a variety of budgets to measure their spending and develop effective strategies for maximizing their assets and revenues. Organizational budgets are generally designed to meet specific needs of the organization.

Discuss the benefits that may be achieved by creating a business budget.

Discuss the likely organizational problems that may arise from not creating a business budget.

How can this help a small business thrive in a short period?