Question
How is budgeting important for an organization?
Answer :
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Financial budgeting spreadsheets are formal business plans prepared by an organization. All managers do some kind of planing. Sometimes the plan is unwritten, especially in smaller organizations. Unwritten plan might work in a small organization, but as an organization grows, informal plan is not enough. A more formal plan or financial budgeting spreadsheet becomes a necessity.
Skeptical managers have claimed that they faced too many uncertainties and complications to prepare financial budgeting spreadsheets worthwhile.
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