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Budgeting helps control expenses and increase profits from "summary" of Financial Intelligence, Revised Edition by Karen Berman,Joe Knight
Budgeting is a critical tool for any business looking to stay on track financially. By setting a budget, a company can establish clear guidelines for spending and ensure that expenses are kept in check. This is essential for controlling costs and avoiding unnecessary expenditures that can eat into profits. Without a budget in place, it can be easy for spending to spiral out of control, leading to financial instability and potential losses. One of the key benefits of budgeting is its ability to help a business increase its profits. By carefully planning and allocating resources, a company can identify areas where cost savings can be made and revenue opportunities maximized. This proactive approach to financial management can result in improved profitability and a healthier bottom line. Budgeting allows a company to prioritize its spending, focusing on investments and activities that will generate the highest return. In addition to controlling expenses and boosting profits, bu...
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