1. Creating an Effective Business Plan
A budget provides an overview of the inflows and outflows of cash within a company and helps to determine the ability of a company to pay its current expenses. ... In addition, the organization not only focuses on its short term and day to day goals but also on the long term goals due to prior planning. ... Budgets are used to monitor and evaluate performance by being the yardstick upon which the actual results of a company are used to guide both current and future decision making processes and hold managers accountable for performance. ... It is based on an inherent assumption that its curren...
- Word Count: 1070
- Approx Pages: 4
- Grade Level: Undergraduate