CHAPTER LEARNING OBJECTIVES
After studying this chapter, you should be able to:
PREVIEW OF CHAPTER 21
Our primary focus in this chapter is budgeting—specifically, how budgeting is used as a planning tool by management. Through budgeting, it should be possible for management to maintain enough cash to pay creditors, to have sufficient raw materials to meet production requirements, and to have adequate finished goods to meet expected sales. The content and organization of this chapter are as follows:
Benefits of Budgeting
3. The primary benefits of budgeting are as follows:
a. It requires all levels of management to plan ahead.
b. It provides definite objectives for ...