Benjamin

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School

Walden University *

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Course

MISC

Subject

Management

Date

Nov 24, 2024

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docx

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Uploaded by Seanyh21

Benjamin I enjoyed reading your post this week I view Forecasting, strategic planning, and budgeting processes as key proponents in my role at my current organization. These three factors impact the organization because it allows for key planning that drive towards success. Without forecasting, planning, and budgeting the company would not have plan on how to achieve organizational goals. By having a fixed plan and goals in place, the company will be better able to monitor how and when to achieve its goals to meet the standards of the company. Operating cash flow is an important tool to use in sales. OCF indicates if a business can produceenough positive cash flow to continue increased operations activities. Many companies who do not bill until the product is shipped wil not receive funds until the package has shipped, tying up cash flow the asses is expected to produce. Inventory on hand and ready to ship is important to avoid lack lag time in cash flow. Creating a quarterly cash flow statement shows how much cashthe firm is generating (Brigham & Houston, 2016). Hi Xuan I enjoyed reading your post this week. You made some great points. A budget is management’s formal quantification of the operations of an organization for a future period. It is an aggregate forecast of all transactions expected to occur (Zimmerman, 2009). Budgeting can impact how an organization works by affecting their profits and performance. By profits, meaning, go over budget and not getting a profit back. By performance, how good members perform under budgeting and its strategic plans. Forecasting is an important tool to help a company make necessary adjustments in spending and focus during the year as the business changes. Although both budget and forecasting may differ in meaning, they are in some way connected to a goal. The importance of forecasting is that it helps to adjust the budget. It is a tool necessary to meet expectations and make decisions, in other words, a future vision. Zimmerman, J. (2020). Accounting for decision making and control (10 th ed.). McGraw-Hill.

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