Answered: planning

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 8MC: What should an organization do if performance measures change? A. Make sure that the manager being...

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What are some potential pitfalls in planning, budgeting, and financial forecasting and how could they affect an organization? What can a leader do to mitigate these? Is planning for future financial performance important to effectively lead an organization? Why or why not?

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Planning, budgeting & financial forecasting plays an important role in any organization to take it to the right direction & also to ensure smooth functioning of the business operations. However at times there can be pitfalls in doing all these which may not provide the results expected by the company.

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