Budget planning is a critical managerial accounting function where future activities and operational plans of an organization are transformed into detailed budgets to forecast revenues, expenses, and financial goals.
A Comprehensive Annual Financial Report (CAFR) is a detailed presentation of a state, municipality, or other governmental entity's financial condition. It can serve various stakeholders, including citizens, governing bodies, investors, and creditors.
Financial planning involves the formulation of short-term and long-term plans in financial terms to establish goals for an organization to achieve, against which its actual performance can be measured.
