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…showed last 75 words of 401 total…be changed. The rest of the article provides examples of each step listed above through companies such as Avon and Texaco. This article relates to managerial accounting in a number of ways. Managers must deal with the four aspects dealt with in this article. Managers deal with budgeting, forecasting, planning, and performance. These are important aspects of almost all managerial positions, and this article shows that there should be a relationship between all of them.