Planning is the primary purpose of budgeting. A well-prepared and well-communicated budget helps prevent stock-outs,...
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Accounting
Planning is the primary purpose of budgeting. A well-prepared and well-communicated budget helps prevent stock-outs, customer service failures, financial emergencies, and a variety of other surprises that could have been avoided. Improperly used budgets also have their downsides. In what way might the planning aspect of budgeting create problems for a firm, especially if the budget is used in performance evaluation? ( Budgeting\ Analysis Exercise)
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