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Please respond to the following:
- Analyze the major pros and cons of preparing annual company budgets.
Identify at least two (2) critical budget line items that you believe
are essential for managing your company. Provide a rationale for your
- One way to monitor a company is to break it into different centers
or business units. For example, a Revenue Center oversees the sales
teams while the Cost Center focuses on making the product or delivering
the services. If the company maintains a store or locations that handles
both revenue and costs, this is called a Profit Center. Managers of
each center have their own budgets and are held accountable for
achieving it. Analyze the most common responsibility reporting systems.
From your analysis, argue at least one (1) pro and one (1) con of using
responsibility reporting systems.