Chief financial officer must evaluate finances for departments
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1. A chief financial officer must evaluate finances for all departments, and create a budget that will include capital expenditures, investments, and future revenues.
Define the difference between forecasting and budgeting. What is the difference between an operating budget and a cash budget?
2. How do you explain the use of time value of money (TVM) in business? What considerations are made when calculating TVM? How may you use TVM to create your own, or someone else's, retirement plan?
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Solution Summary
The chief financial officer which must evaluate fiances for all departments are examined.
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The differences between forecasting and budgeting is the way in which they are used and the data that each contains (www.financialpreneur.com). Forecasting is the expectation of what will happen to a business over months based on what is happening to the business presently. Forecasting is where a business is going in the future through finances. Forecasting can also be seen as the process of analyzing current and historical data to determine future trends (www.investapedia.com).
A budget is a course that a business has chosen and planned in order to get to their desired financial position. A ...
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