THE PURPOSES AND BENEFITS OF THE MASTER BUDGET

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sunandaC

Sunanda K. Chavan
THE PURPOSES AND BENEFITS OF THE MASTER BUDGET

Integrates and Coordinates
Activities of various functional areas of Orgn.
Helps to ensure all needed inputs are available

Communicates and Motivates
Helps employees to see the efforts made to achieve goals

Promotes Continuous Improvement
Encourages managements to improve customer value and reduce costs.

Guides Performance
Becomes basis for acquisition and utilization of various

Facilitates Evaluation and Control
Provides a method for evaluating and subsequently controlling performance.


 
<h2>Definition of Master Budget</h2>

The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, a cash forecast, and a financing plan.

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