Discuss the importance of budgeting for a business scenario.

Description

The task is to complete a report which is used to evaluate your own performance with regards to budgeting.

The report will include;

A) Discuss the importance of budgeting for a business scenario.

B) Prepare an operating budget for the next 12 months

C) Discuss how the business should assess the performance.

Learning Outcomes Assessed:

LO2 Analyse the management accounting techniques related to a range of business situations and managerial decision making.

LO3 Prepare a budget to reflect a given business scenario.

LO4 Demonstrate the ability to assess the financial and non-financial aspects of divisional and organisational performance.

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