Having budget management forces the estimation of future economic conditions on a systematic basis. It also forces managers to develop an overall direction for the organization, anticipate potential problems, and develop future policies, for budgets convey information about the capabilities of the organizations resources, therefore better decisions are made possible. For example, knowledge of expected revenues and expenses and cash flows can lead to more informed decisions regarding salary increases,

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Approximate Word count = 405
Approximate Pages = 2 (250 words per page double spaced)