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The Small Business Controller by Richard O. Hanson

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Chapter 11

Planning and Budgeting

A company cannot survive long without some sort of planning and budgeting. In this chapter, we discuss the annual planning and budget process, including the break-even point, the margin of safety, and free cash flow. Additionally, we present flexible budgets versus static budgets, with specific examples and illustrations. Lastly, we discuss operating and financing leases as a means to raise capital.

The Role of the Controller in Planning and Budgeting

A controller spends a significant amount of time in preparing, altering, and finalizing the annual budget. Although a discussion of the pros and cons of successful budgeting is not part of this book, it is important that small business controllers assume a leadership ...

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