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The success of a business is often dependent on its ability to effectively manage its Master budget. The Master budget is a collection of interrelated budgets, each related to one or more business units of the organisation. The performance of each business unit manager is thereby influenced by their budget/s. Your task is to write a report on the significance of the Master budget on the success of a business. As part of your report, you are required to explain: 1. THREE (3) of the budgets of the Master Budget (one of them being the Cash Budget) and how they relate to each other. (400 – 600 words) 2. TWO (2) business units (i.e. departments within a business) and how their manager’s performance is affected (i.e. judged or gauged) by at least ONE of the budgets mentioned above. (300 – 500 words) 3. How adherence to the budget affects the business’ overall profitability. (i.e. how and why budgeting in business is important). (100-200 words). In addition to an introduction and conclusion (100 words each), your report should be between 1,000 and 1,500 words. You are also required to use in-text referencing and a reference list using APA referencing.

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