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ACC220WK7DQ1 (2) - company and the company’s prediction...

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How does budgeting help management make good business decisions? Budgeting helps management make good business decisions in many ways, knowing they have enough money to build and sell new products, solid facts from the budget that say it is a good time to hire a new employee, buy more office supplies, or buy new office furniture, as well as other expenses. Management stands behind their budgeting plan that they helped put the final touch on along with the accounting department with the correct figures. What the budgeting also shows management is the potential of sales for their
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Unformatted text preview: company and the company’s prediction of the profit of these sales. Management knows that when they look at their final budget of like expenses for a time period of a month, they know what they are capable of doing. These budgets that they design have to be 100% accurate so that solid business decisions can be made. For if Management didn’t come up with a solid budgeting plan than it is most likely that the company will not succeed....
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