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One of the most effective management tools is your budget. This tool can be used each and every month to check the progress of your company towards its goals. The budget is one area that is consistently underutilized and underappreciated. There are few businesses that take the opportunity to develop, analyze, and use budgets to help achieve the overall objectives and goals of the organization. The budget will also provide help to you when selecting alternatives to make your business plan realistic and achievable. A budget is simply a projected income statement that provides a detailed plan of future receipts and expenditures.
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