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Accounting: Relevance Of Budgeting

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Discuss the relevance of budgeting as it relates to the accounting profession in general. Relate lessons learned from a self-selected reading or from something you learned while working on your accounting profession in general.

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Solution Summary

This solution explains how budgeting is related to the accounting profession. The way that companies use budgeting, and the importance of budgeting are also discussed as related to the general business setting.

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Budgeting is one of the central elements of business, whether we're dealing with the accounting firm we work for, or a client company. The purpose of budgeting from a corporate standpoint is essentially the same as when an individual develops a personal budget. The budget is used as a guideline or template for the ...

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