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Hi Lisa,
Question – How does flexible budget help with uncertainty?
I ask this because flexible budgets adjust based on actual activities once they happen – they don’t inherently predict future changes or uncertainties beyond the current period (unlike rolling budget and probabilistic budget).
Thank you
This is because flexible budgeting allows businesses to adapt, and even capitalise upon unexpected change far more easily. It allows you to adjust your spending and income projections based on different scenarios and assumptions. This adaptability allows businesses to make more accurate performance evaluations and forecasts, fostering better decision-making processes.
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