Description should include the concepts that a financial model

Process/Skill Questions:

What types of financial information should be included in a budget? Why?
How can budget preparation assist in decision-making?
How does the budgetary process affect marketing mix decisions? Product mix decisions?
How can a budget assist the business owner in planning for the future?
What are potential consequences if a business owner does not prepare a budget?
What resources are available to help an entrepreneur develop an effective budget?
Why is the budgetary process important in the strategic planning process?
What is the benefit of comparing budgets to historical business performance data?