data analysis 4

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School

Miami Dade College, Miami *

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4110

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Business

Date

Apr 3, 2024

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docx

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PUP4110 Data analysis 4 There are many differences when it comes to a Annual budget and a Biennial budget. A Annual budget is a one year budget that plans for a company’s projected expenditures while a Biennial budget is a two year budget. Both of these budgets go along with many pros and cons let’s start with an Annual budget. An Annual budget consists of many pros such as it allows for a company to plan for the entire year ahead allowing companies to set clear financial goals and objectives. An Annual budget also allows for financial control that helps monitor and control expenses. Some cons that go along with this budget strategy would be dealing with uncertainties such as unforeseen expenses, non steady market, and regulatory changes. Another con would be that to set an annual budget is every time consuming specifically when dealing with large companies. To start off with the pros of biennial budget I would first have to touch upon that a Biennial budget takes up less time since you aren’t having to make a budget every year like you would if you were making an Annual budget. An biennial budget also allows for a longer time frame for planning which allows for better decision making and strategic planning. Companies can also focus more on executing their goals with a biennial budget since they have more time. Companies should carefully look at both the pro and cons of these budgeting strategies when determining which one to use for themselves. They both offer a lot but one isn’t clearly better 1

PUP4110 Data analysis 4 than the other I believe it is mostly what fits best.In regards to Miami Dade budget it was mostly an annual budget. Throughout the whole budget it consisted of annual numbers. 2

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data analysis 4

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