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The budget process is often iterative and may involve a first, second, and even third round...

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Accounting

The budget process is often iterative and may involve a first,second, and even third round of discussions and updates withdepartment managers/senior management. Given this situation, whatcould we do from an organizational standpoint to effectively keeptrack of all these changes and why is it important to build aflexible budget template?

Answer & Explanation Solved by verified expert
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In order to keep track of all the changes in the budget process a term known as agile project management could be used in which different small sections are developed and completed in    See Answer
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