a. In the capacity of consultant you have been asked by Bill to provide advice on the deficiencies that exist with the Company’s Financial Management Process. This includes the lack of a budgeting and reporting structure which would provide a greater level of control. Your report should include an explanation of budgeting & why it is an important planning tool. Guideline 150 words.
b. It is currently September 20×3 and Bill would like to understand the process to facilitate the creation of these budgets for the next calendar year being 20×4. This includes the creation of KPIs, current year forecast through to the final approval of the budget before the start of the forthcoming year. You may use bullet point format with a brief explanation