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Greetings Sir
Can you please explain to me what is
1) Expectation Budget
2) Aspiration Budgetand how these 2 budget differ.
Whether Aspiration Budget is set based upon the aspirations of Senior Management or based upon the aspirations of Operational Management ?
Thank you, sir, in advance =)
Neither of these is specifically examinable per the syllabus (and certainly you can never be asked for any calculations regarding either).
Expectations budgets are based on what can reasonably be expected to happen. Aspirational budgets are based on what you would like to happen. They would be the expectations or the aspirations of whoever is preparing the budgets (depending on whether the business is using top-down or bottom-up budgeting).
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