Managers become “myopic” in budgeting when they see budgets as measures for performance—they forget that the main objective of budgeting is to plan, organize, and manage the firm’s resources. As a result, budget realignments occur because there is a failure to plan future events. When you subtract both your fixed costs and your variable costs …
It’s essential to compare the AP turnover ratio with industry benchmarks or historical data to assess performance relative to peers or previous periods. A significantly higher or lower ratio than industry averages may warrant further investigation into the company’s payment practices, supply chain efficiency, or financial strategy. This key performance indicator can quickly give you …
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