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Analysing Financial Perfomance
Budgeting
What are the benefits of Budgeting?
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What are the benefits of Budgeting?:
Production or
expenditure
budgets allow managers to ensure that a business does not
overspend.
Budgets allow senior managers to direct extra
funds
into important
areas
of the business.
What are the benefits of Budgeting?:
Budgets can be used to increase staff
motivation
and
performance
Budgets enable managers to make
focused
and informed decisions to improve financial
performance