Your colleague in the SPA management program started a business six months ago. The believes their business is doing well. They hired six staff and bought equipment. Their sales manager is paid largely by commission, and though it is a significant expense, the sales manager has been very effective in finding new customers. They know you are in the business program and are asking your advice about a few things: a) Is a budget really necessary? What value would it bring my business? How would it work? Where would we start? b) Who should prepare a budget? What issues might we expect in implementing a budget? c) What is the difference between a revenue and expense budget and a cash budget? Do we need both