What Are Examples of Budget Gamesmanship That May Occur in a Company,and

question 67

Essay

What are examples of budget gamesmanship that may occur in a company,and how can the gamesmanship be reduced?

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Definitions:

Invoice Approval

The process of reviewing and verifying an invoice before it is paid to ensure that the charges are accurate and the goods or services were received.

Petty Cash Reimbursement

The process of refilling the petty cash fund to its set level after its funds have been used for small, incidental expenses.

Journal Entry

A record in accounting that represents a transaction with debits and credits documented in the appropriate accounts.

Streamline

To simplify or eliminate unnecessary steps in a process to increase efficiency and improve performance.