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The specific financial targets that need to be achieved to meet our company's goals include revenue growth, profit margins, cost reduction, cash flow improvement, and return on investment.

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5mo ago

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What is the difference between a budget and a financial report?

The main difference is, budget is a planned activity to meet the targets whereas financial report is the one which shows the health/wealth of the organization.


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How do budgets support the role of financial management?

Budgets play a crucial role in financial management by providing a structured plan for allocating resources and setting financial targets. They help organizations forecast revenue and expenses, enabling better decision-making and strategic planning. By comparing actual performance against budgeted figures, financial managers can identify variances, assess financial health, and make necessary adjustments to improve efficiency and profitability. Ultimately, budgets enhance accountability and facilitate effective monitoring of financial performance.


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Do company executives receive bonuses?

Yes, company executives often receive bonuses as part of their compensation packages. These bonuses are typically tied to performance metrics, such as meeting financial targets or achieving specific strategic goals. The structure and size of bonuses can vary significantly depending on the company, industry, and individual executive roles. Additionally, bonuses may be in the form of cash, stock options, or other incentives.

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