Occurs when managers intentionally understate expected revenues or overstate expected expenses to increase the chances of receiving favorable performance evaluations. A long-term financial plan used to coordinate the activities needed to achieve the long-term goals of the company. The budgeting objective where the plans are carried out. The budget that is made up of the operating budget, capital expenditures budget, and the financial budget The practice of comparing a company with its prior performance or with best practices from other companies. The set of budgets that projects sales revenue, cost of goods sold, and selling and administrative expenses, all of which feed into the cash budget and then the budgeted financial statements. 1. Benchmarking 2. Budgetary Slack 3. Control 4. Develop Strategies 5. Direct 6. Financial Budget e 7. Flexible Budget 8. Master Budget blan e 9. Operating Budget 10. Operational Budget 11. Participative Budget Live 12. Plan 13. Static Budget 14. Strategic Budget 15. Zero-based Budget