Budgeting
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Budgeting. Budgets must be made compatible with a business’s strategic objectives. Steps to create a budget comprise…. Long-Term (5 yr.s ?). Short-Term (1 yr.?).

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Budgets must be made compatible with a business’s strategic objectives. Steps to create a budget comprise…


Long-Term (5 strategic objectives. Steps to create a budget comprise…yr.s?)

Short-Term (1 yr.?)


Budgets convert strategic plans into short-term, actionable blueprints, and are usually expressed in financial terms. Budget targets would include things like….


Issues in budgeting
Issues in Budgeting blueprints, and are usually expressed in financial terms. Budget targets would include things like….


Inter relationship between different budgets and business activities in a manufacturing business
Inter-relationship between different budgets and business activities (in a manufacturing business)


Sometimes, things other than sales (e.g. production capacity) can be the limiting factor.





Often a Budget Committee is established to set the budgets, and a Budget Officer (often an accountant) is assigned to carry out the budgeting assignments.


Incremental vs zero based budgeting
Incremental vs. Zero-Based Budgeting and a Budget Officer (often an accountant) is assigned to carry out the budgeting assignments.


Continued next slide….. and a Budget Officer (often an accountant) is assigned to carry out the budgeting assignments.


Next lecture: Budget preparation. and a Budget Officer (often an accountant) is assigned to carry out the budgeting assignments.


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