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