Planning & Budgeting

6 important questions on Planning & Budgeting

Participative budgeting advantages

  • Bigger employee motivation
  • More acceptance of organization goals
  • Can yield information that employees know but managers do not

Participative budgeting disadvantages

  • More time-consuming

Sales staff advantage

  • Salespeople are in the unique position of being close to the customer
  • They could be the people in the company who posses the best information an the best local knowledge about customers immediate and near-term needs.
  • Higher grades + faster learning
  • Never study anything twice
  • 100% sure, 100% understanding
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Sales staff disadvantage

They can be baised (bevooroordeeld)

It is reasonable to start the master budget...

With the most unncertain factor (sales or production).

Budgeted balance sheet

Combines an estimate of the financial position at the beginning of the budget period and the budgeted results of operations for the period.

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