Budgeting Process

Essay specific features

 

Issue:

Business

 

Written by:

Gregory H

 

Date added:

November 13, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1303

 

Was viewed:

4416 times

 

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Essay content:

A budget must be established to measure current financial performance, detect substantial changes in circumstances or business conditions, it must be realistic and attainable, and be based on a thorough analysis that includes a clear identification of the budget's purpose to the company's mission, goals and objectives along with a comprehensive assessment of the departmental needs associated with the creation of the budget...
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The first step, preparation, involves the development of expenditure estimates in light of available revenues. In a nutshell, this is the step in which the operation costs are weighed against available funds and business revenues. The next step, approval, occurs after the budget estimates are submitted to the person or persons responsible for the approval process, such as a board of directors, or upper management...
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