Understand business budgeting
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What is a cashflow budget?
a plan for the future
a way of measuring performance
a comparison of figures
an estimate based on the past
What are expenses?
projected activity
income from the sale of products
capital costs
the costs incurred to produce a product
What is the marketing budget part of?
cash flow budget
operational budget
production budget
capital budget
Why is it important to monitor a budget?
to check achievement of targets
to look for variance
to reconcile cashflow
to ensure good communication
If a budget is revised, it is important to:
eliminate variances
set motivational targets
allocate more money
communicate the changes
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