Answer to Question #78871 in Finance for Liam Johnston

Question #78871
Why is it important to report actual income and expenditure figures against budget figures at regular intervals?
1
Expert's answer
2018-07-11T10:38:08-0400
Good financial management systems and processes for tracking resource utilisation are essential for a department to make effective use of its resources. Effective planning and financial control will help departments to:
• ensure the efficient and effective use of resources
• make sound business decisions
• demonstrate accountability
• take remedial action where needed

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