This seems to me to be a contradiction in terms, or could this be my untrained eye causing confusion?
However confusing, I think it's interesting, what appear to be two conflicting, deceptive, views seem to point towards an important benchmark. Why? Because we are also aware that this terminology is a break point and often used in the differentiation of managerial accounting and financial accounting, financial being future, so as I've really confused myself now, I'll try to rabble through my thoughts
It seems to me; (living in a houseful of women) that budgeting is really for the future, The anticipation of 'what might be' is based on the best available information, and so without a crystal ball both of the statements above have to be true. …
