Can you assist me getting started on the following assignment?
Assume that you work in the accounting department of a small wholesale warehousing company. Inspired by a recent seminar on budgeting, the company's president wants to develop a budgeting system and has asked you to direct it.
Identify the points concerning the initial steps in the budgeting process that you should communicate to the president. Concentrate on principles related to long-term goals and short-term goals.