1.1 The Budgeting Process Budgeting is an aspect of business planning. It simply means the descriptive and comprehensive roadmap for implementing strategic, short- or long-term financial and non-financial plan that controls and sustains business activities thereby facilitating actualization of overall business objectives. Although planning aims at improving profitability, budgeting emphasizes S.M.A.R.T. (i.e., Specific, Measurable Attainable,…

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