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Salam & Co is a fast-moving business operating in the IT/technology industry. The company has...

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Accounting

Salam & Co is a fast-moving business operating in the IT/technology industry. The company has a highly specialised Research and Development (R&D) department and has experienced continuous growth in sales over the past 6 years. According to the managing director, the success of the company is mainly due to its huge investment in research and development, resulting in the production of market leading products. The company is currently at the stage where it is considering changing its budgeting method/type for the following year. Required: From your knowledge of budgeting, and considering the nature of the business and its industry, explain the type of budget that would be suitable for Salam & Co?

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