Chapter 5

Business Budgeting

In This Chapter

arrow Discovering the benefits of budgeting

arrow Designing accounting reports for managers

arrow Budgeting in action: developing a profit plan and projecting cash flow from profit

arrow Investing for the long haul

arrow Staying flexible with budgets

Abusiness can’t open its doors each day without having some idea of what to expect. And it can’t close its doors at the end of the day not knowing what happened. In the Boy Scouts, the motto is ‘Be Prepared’. Likewise, a business should plan and be prepared for its future, and should control its actual performance to reach its financial goals. The only question is how.

jargonalert Budgeting is one answer. Please be careful with this term. Budgeting does not refer to putting a financial straitjacket on a business. Instead, business budgeting refers to setting specific goals and having the detailed plans necessary to achieve the goals. ...

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