In which situations are managers likely to rely on estimated, rather than actual, cost data?

1 answer:

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In these cases, managers generate financial reports and evaluate performance using predicted cost data rather than real cost data.

The balance sheet, income assertion, and coins flow assertion are the three essential financial statements that managers should be capable of apprehend and compare.

The stability sheet provides a quick precis of a enterprise's financial function for a sure time period. in addition to tracking performance, budgets, and different signs, managers might also use monetary statements as equipment to inspire teams, make decisions, and keep a watch on the huge photo.

therefore, keeping an eye fixed for your financial performance increases your guarantee and confidence while making selections for the long time and the near term. a more healthy enterprise and faster boom rate follow from this. additionally, it allows you to outperform and outwit competitors who fall brief in this area.

Learn more about financial reports:

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