Analyze the major pros and cons of preparing company budgets

Analyze the major pros and cons of preparing company budgets

“Liabilities” Please respond to the following:

• Analyze the major pros and cons of preparing company budgets. Determine at least two critical budget items that you believe are essential in managing a company. Provide a rationale for your response.

• Analyze the most common responsibility reporting systems. From your analysis, argue at least one pro and one con of using responsibility reporting systems.