The preparation of budgets is a lengthy process which requires great care if the ultimate master budget is to be useful for the purposes of management control within an organization.

You are required:

(a) to identify and to explain briefly the stages involved in the preparation of budgets identifying separately the roles of managers and the budget committee;

(b) to explain how the use of spreadsheets may improve the efficiency of the budget preparation process. (7 marks)
(Total 15 marks)
CIMA Stage 1 Accounting