Budget is defined as a financial plan intended for a specified period of time. Estimate cash flows, expenses, and outline organizational strategic plans in measurable terms. The budget, therefore, gives detailed indications on how the various capitals have been allocated for specific purposes regarding the various proposals put forward. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Budgeting is therefore an essential tool for every organization. It helps in planning both short and long term goals (Secretariat, C. (2001). Budget is an essential factor if an organization wishes to obtain a grant or funding from various organizations such as NGOs or government agencies. This because this funding organization supports the transparency and accountability of the funds granted. To improve effectiveness in terms of accountability or accountability and transparency, budgeting is crucial as it outlines the allocation of resources for each need. The research clinical involves the process of scientific research investigations therefore help to find preventive and diagnostic solutions. Conducting such research can be extremely expensive and therefore the need to seek funding is critical (Matula, M.A. (2002). To demonstrate transparency and accountability as a research analyst and company, budget is essential. as it will indicate the ways in which we allocate the funds we obtain as grants. A clinical research company seeks funding on selected Requests for Applications (RFAs) known as Socioeconomic Disparities in Health and Mortality in Older Ages with a Funding Opportunity Announcement (FOA) number RFA-AG-18-011. The funding opportunity for this RFA has been announced at the National Institutes of Health. It aims to support various studies that primarily identify the mechanisms, explanations and also modifiable risk factors that underlie current trends of increasing inequalities in morbidity and mortality across income, geographic location, education in advanced age in the United States of America. The opening dates for these RFAs are expected to be September 20, 2017 and the closing dates on October 20, 2017. In recent times, in the United States of America, morbidity inequalities due to various states of disease, ill health or disabilities and increased mortality rate in old age, and therefore a solution to the problem is crucial (Adler, N.E., & Newman, K. (2002). Research society must conduct research based on such social disparities and economic issues in order to find the risks of the situation as well as the search for solutions in terms of viable mechanisms to manage the cases will be conducted over a period of one year and will include a collection of data and information throughout the region of the United States in order to have concrete data regarding the problem. To conduct the entire research and clinical trials, the estimated budget will be $1 million. The budget will be based on two groups including direct costs and indirect costs . Direct costs will include personal salaries and employee benefits, the provision of materials necessary for effective research, travel expenses, the purchase of various equipment, telephone costs and finally postage costs. Indirect costs include various overhead costs, maintenance and also depreciation costs. Please note: this is just an example. Get a custom paper from our expert writers now. Get a custom essay Personal salaries and employee benefits are essential to research success since , without.