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Sample solution for SITXFIN009 Manage finances within a budget

Briefly explain how budgets control the organisation's costs.

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Diploma Courses Assignment Sample

Q1:

Answer :

Budgets are used to control the costs of the organizations as they can help them make the best decisions for the financial growth of the business. They can track their expenses, identify the variances and take corrective actions to meet the budgetary goals. We can track the spending of different departments through budget.