Create a table where you can compare the operational budget and the financial budget in terms of: Accounting base used in its preparation Purpose Content Information they provide
| In terms of | Operational budget | Financial budget |
| Accounting base used in its preparation | Cash basis | Modified cash basis or accrual basis |
| Purpose | It is used to budget for the operating activities of the business i.e. the incomes and expenses that the firm incurs on a daily basis. | It is used to budget for assets and liabilities for the firm, investments and other financial activities |
| Content | It contains budgets by function such as cash budget, sales budget, production budget and other costs budget | The budgeted cash flow statement and the balance sheet |
| Information they provide | It provides information about the liquidity position of the firm and also planning for the business operations. It provides short term view for the organization. | It assists in planning for long term investments and financing needs for the business. It provides a long term view. |
Create a table where you can compare the operational budget and the financial budget in terms...
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