What would you consider when reviewing a budget? Under what conditions is a flexible budget more effective than a forecast budget?

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To use your budgets effectively, you will need to review and revise them frequently. This is particularly true if your business is……… PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER…………and you are planning to move into new areas. Using up-to-date budgets will help you ………PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER…………… effectively and identify what needs to be achieved in the next budgeting period………PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER

Reviewing takes more than five minutes. Ideally, most of your reviewing time should be spent on ensuring the n…PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER…. and not checking if the merge worked successfully or if the numbers actually add up correctly. You want to be looking for business ……..PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER…………..and not process issues in the review and these all take time. Did someone predict a huge increase in sales but forgot to also increase costs of goods sold? Does the person really think they don’t need additional marketing funds this year? Did this user justify a 25% increase in salary costs? Make sure you give yourself enough time to do this properly and follow-up with the …………..PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER……… As for verifying if the merging worked, unfortunately

Look at the table below and while doing so, the “one of these things is not like the other, one of these things doesn’t belong” song should be running through your head. In this scenario, postage accounts for 0.10% of the total budget. Even if the amount was twenty-five times as large, it is irrelevant in the big picture. The message here is when it comes to reviewing, be sure to ………PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER………on the big ticket items that make a difference.

When you start the budgeting cycle you need to decide who “owns” the numbers. The front-line contributors to the budgeting plan and those who are accountable to those numbers should be the only ones who can change them. However, if you do allow ……….PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER……………to change the numbers, then it is absolutely critical that those who are being held accountable to the budget know: What changes were made, Who made the changes, Why the changes were ……………………..PLACE ORDER FOR COMPLETE AND CUSTOMIZED ANSWER

 

 

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