Budget is defined as a financial plan intended for a specified period of time. It estimates cash flow, expenses and describes organizational strategic plans in measurable terms. Therefore, the budget gives detailed information on how different capitals have been allocated for specified purposes based on the different proposals presented. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay Budgeting is therefore an essential instrument for every organization. This helps in planning short term or even long term goals (Secretariat, C. (2001). Budgeting is an essential factor if an organization wishes to obtain grant or funding from various organizations like NGOs or government agencies. These organizations that grant funding advocate transparency and accountability for the funds they grant. To improve efficiency in terms of accountability and transparency, budgeting is crucial because it defines the allocation of resources for each research need. Clinical research involves the scientific process. Investigations therefore help to find preventive and diagnostic solutions. Conducting such research can be extremely expensive and therefore it is essential to seek funding (Matula, MA (2002). To demonstrate transparency and accountability. As a research analyst and business, budgeting is essential because it will indicate the means by which we allocate the funds we obtain in the form of grant. A clinical research company is seeking funding under a selected RFP (RFP) known as Socioeconomic Disparities in Health and Mortality Among Older Adults with an Announcement of financing opportunity (FOA) number RFA-AG-18-011. The funding opportunity for this RFA was announced by 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 due to income, geographic location and of education of the elderly in the United States of America. The opening dates for this RFA are September 20, 2017 and the closing dates are October 20, 2017. Lately, in the United States of America, inequalities in morbidity have increased, due to various illnesses, health problems or disabilities, and have increased. mortality rates at higher ages, and therefore a solution to the problem is essential (Adler, NE and Newman, K. (2002). The research firm must conduct research based on these social and economic disparities in order to find the risks of the situation as well as the search for solutions in terms of viable mechanisms to deal with the cases The research period will take place over a period of one year and will include collection of data and information throughout the United States region in order to. to have concrete data on the problem To conduct the entire research and clinical trials, the estimated budget will be 1 million US dollars. The budget will be based on two groups which include direct costs and indirect costs. Direct costs will include personal salaries and benefits of employees, the provision of materials necessary for effective research, travel expenses, the acquisition of various equipment, telephone and finally postal costs. Indirect costs include various overhead and maintenance costs, as well as costs..