Answer to Question #90956 in Accounting for Jane Lee

Question

You are the Chief Financial Officer (CFO) of a leading retailer that imports furniture and directly sells those online. You have noticed that for the past two years the difference of actual figures and budgeted figures are significant. You are a bit worried about that. You also have been notified by the board members that the reports have not been distributed timely this year which may cause a delay in the projection of next year’s revenue. You have decided to review the budgeting process.
Write a 200 word report on the importance of having a systematic budgeting process in the company

Answer 1

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