• Explain the importance of planning, budgeting and control on resource management and value creation.
• Explain the challenges that senior executives and management accountants face in today's business world, which has impact on the budget preparation process.
• Identify and explain the challenges and uncertainties the management accountants may expect to face in the future while preparing budgets.
• Explain what management accountants can do to overcome these challenges.
• Discuss the ethical considerations that needs to be managed during budgeting process.