Enclosed are the purposes and the processes of making a master budget and why it is important to a company. A master budget is generally used as a tool to formulate intelligent decisions on the management and growth of a business venture. Analyzing a business process helps us to understand its key elements. In the master budget process, the strategic and operational planners' primary concern is to develop a realistic plan that can be used …showed first 75 words of 794 total…

…showed last 75 words of 794 total…in the future and how they plan on getting there. Management should have a detailed plan by which they can measure their performance and adjust the organization's direction when it becomes necessary. Without a plan, it becomes very difficult to analyze and understand the factors that are affecting performance. A master budget process can give management the information and mechanism they need to align the entire organization and focus it on its goals. ------------------------------------------------------------------------ **Bibliography**