Question: Budgeting is a process of forecasting future operating performance (income statement) and financial condition (balance sheet). Budgeting is important because it facilitates both short- and

Budgeting is a process of forecasting future operating performance (income statement) and financial condition (balance sheet). Budgeting is important because it facilitates both short- and long-term planning, establishes goals and objectives, and provides a basis for comparing actual results with expected, or budgeted, results.

What are some of the challenges when it comes to budgeting?

What are some of the steps companies take in order to overcome them?

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=+1. Who will receive the final evaluation?

=+1. Do you need objective data? 6. dan you tolerate less: |jrecis;e statistics than a

=+2. Can you be objective in your study even professional researcher might generate? though it involves your own organization?