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Financial Manager's Budgeting

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How should financial managers budget for unforeseen changes and improvements in information technology that require large capital outlays?

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Solution Summary

This solution first defines what budgets are and why they are used by organizations. It then looks at two of the main ways in which managers may go about budgeting for unforeseen changes and improvements in information technology.

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Hello Student,

The first thing you may want to do before you answer this question is to define what a budget is. After this, you then need to look at how financial managers can go about budgeting for unforeseen changes and improvements in information technology. A budget may be defined as a company's or individual's financial plan for the future. It ...

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