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Bookkeeping All-in-One For Dummies, 2nd Edition
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Bookkeeping All-in-One For Dummies, 2nd Edition

by Lita Epstein, John A. Tracy
August 2019
Intermediate to advanced content levelIntermediate to advanced
608 pages
15h 28m
English
For Dummies
Content preview from Bookkeeping All-in-One For Dummies, 2nd Edition

Chapter 2

Budgeting

IN THIS CHAPTER

Bullet Defining the benefits of budgeting

Bullet Budgeting profit and cash flow

Bullet Determining whether budgeting is worth it

Bullet Keeping budgeting in perspective

Bullet Staying flexible with budgets

A business can’t open its doors each day without having a pretty good idea of what to expect, and it can’t close its doors at the end of the day not knowing what happened. Recall the Boy Scouts’ motto: “Be prepared.” A business should follow that dictum: It should plan and be prepared for its future, and it should control its actual performance to reach its financial goals.

Business managers can wait for results to be reported to them on a “look back” basis and wing it from there. Or they can look ahead and carefully plan profit, cash flows, and the financial condition of the business to chart its course into the future. The plan provides invaluable benchmarks; actual results can be compared with the plan to detect when things go off course.

Planning the financial future of a ...

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Publisher Resources

ISBN: 9781119592907Purchase book