Budgeting Process

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Title: Budgeting Process

Essay Details:

Subject: Business

Author: Nick B

Date: May 7, 2017

Level: University

Grade: C

Length: 5 / 1303

Essay text:

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. The budgeting process involves four main stages which are: preparation, approval, implementation and evaluation. The first step, preparation, involves the development of expenditure estimates in light of available revenues...

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