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August 18, 2021

What are some challenges and weaknesses that a firm may find in the budgeting process?

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In your own words, answer this unit’s discussion questions in a main post (recommended minimum 300 words), and respond to at least two peers’ postings (recommended minimum 75 words).

After you have reviewed the Assignment Details below, click the Discussion Board link under the My Work heading above to open the Discussion Board and make your post.

Assignment Details

Many companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack when budgeting are effective control practices and monitoring.

Budgeting is essential to businesses, but it is not that simple to implement:

What are some challenges and weaknesses that a firm may find in the budgeting process?

What are some examples of effective monitoring and control practices, and how do they help address budgetary challenges?

Discuss the role of the budgeting committee and its responsibilities

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