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Customer-Driven Budgeting by Floyd Talbot

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Chapter 7

Key Management Areas

Budgeting Foundations

Business success depends on management decision-making from hindsight and insight for razor focused foresight without which careful oversight would be highly difficult at best.

Objectives

After completing this chapter, you will be able to accomplish the following toward the budget process:

1. Identify KMAs as key managerial components of your company.

2.Identify the importance of KMAs for better management of organizational components and the company’s constituents.

3.Define the management chart for your company.

4.Apply KMAs for identifying key control points, risks, their funding, and how they are part of financial reporting.

5.Identify resource requirements according to each KMA in your ...

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