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Provide in narrative form a summary of the steps an organization utilizes to plan and budget, including the various types of budgets implemented for organizations

Provide in narrative form a summary of the steps an organization utilizes to plan and budget, including the various types of budgets implemented for organizations and what varies between the service and manufacturing organizations. The CFO would like to highlight the controls and process in place the budget provides. Also the CFO has heard of the merits and benefit of utilizing a flexible budget. Please provide valuable insight.

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