How do profit and loss statements cash flow (using the direct and indirect methods), and aging summaries contribute to new budgets? How can you ensure that managers and supervisors in the organisation understand the budget and understand their reporting requirements with regard to financial management? Budgets are used to identify and track discrepancies between agreed and actual allocations. Explain. How do budgets contribute to analysis of existing financial management approaches?

Answer rating: 100% (QA)

Cash Flow Statement also known as Statement of Cash Flows is a statement which shows the Changes in the Cash Position of an organisation between 2 periods Along with showing the changes in the Cash Po... View the full answer