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Describe meaning and component of financial reporting system

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Assignment

• Describe the meaning and the components of a financial reporting system.

• Explain the budget cycle and process.

• Write a description of how management should use an activity based budget instead of an operating budget

o Explain the similarities and differences of the two budgets

• Give an example of budget guidelines that ICBI should follow in order to successfully plan.

o Identify and describe at least 5 basic budget guidelines.

Reference no: EM131552910

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