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Explain the concept of a master budget

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Reference no: EM132318494

Question

Many organizations operate with an annual budget as their guide. This helps the organization ensure that their spending relates to their strategic goals and acts as a tracking measure of progress each accounting period.

Explain the concept of a master budget and explain each of the sub-budgets that are created to support the creation of that master budget. List these sub-budgets in the order in which they would be prepared to arrive at the end result, the master budget.

Reference no: EM132318494

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