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Unformatted text preview: plans to implement the strategies. In long-range planning, management also considers anticipated trends in the economic and political environment and how the company should cope with them. The final difference between budgeting and long-range planning relates to the amount of detail presented . Budgets , as you will see in this chapter, can be very detailed. Long-range plans contain considerably less detail. The data in long-range plans are intended more for a review of progress toward long-term goals than as a basis of control for achieving specific results. The primary objective of long-range planning is to develop the best strategy to maximize the company's performance over an extended future period....
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This note was uploaded on 11/08/2011 for the course ACCOUNTING ac 202 taught by Professor - during the Fall '11 term at Montgomery.
- Fall '11