One of the processes of administration, which in its essential form represents the most indispensable section of every private or public business or institution, is budgeting .
To be more specific, its definition is characterized by being a very systematic plan; according to Wikipedia, a Budget is an "an account of the Money to be spent on a project, or by a person or organization in a Time period." Obviously, it shows an action plan which aims at achieving objectives.
One of the processes of administration, which in its essential form represents the most indispensable section of every private or public business or institution, is budgeting