Please, write a main discussion post about the below topic and respond to the two classmate discussion posts attached. Thank you! Topic : "Budgeted performance is a better criterion than past...

The statement is correct that the budgeted performance is far useful than the past performance for the judgment of the managers and the reason behind this is that the inefficiency combined in the past outcome can be traced and removed in the budgeting process. Moreover this future condition is expected to have difference from the past and these can be factored in the budgets. Budgets allow a firm’s managers in the measurement of the actual performance of the company as compared to the predicted performance (Hayes Adam 2019). I agree with the initial opinion that budgeted performance is the best option as compared to the past performance for the judgment of the managers as the process of budgeting and performance evaluation involves ongoing planning and adjusting. Management could also use the budgeted performance outcome to determine if the goals of the company are being consistently met. A budgeted performance evaluation, when done correctly, accounts for all the variables in the current year and current market conditions.  This can be explained with the help of the illustration i.e. if a grocery store had budgeted sales of $400,000 for the year but due to...