Budgeting process other than performance evaluation

Assignment Help Managerial Accounting

Reference no: EM133440588

Question: Missions, strategic plans and budgets should be related to one another. Explain why this statement is true, or if you disagree explain why.

A multinational business is subjected to special challenges due to uncertainties involved in foreign exchange rates, political, legal and economic environments in the different countries in which they operate. Due to these uncertainties, an owner of such a business declared "budgeting is useless as we can never come up with accurate budget projections that can be used for performance evaluation". Explain to this owner the benefits of the budgeting process other than performance evaluation.

Reference no: EM133440588

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