Chapter 2

Budget Cycle

Without action, inertia and stagnation create rigor mortis in the business.

Objectives

After completing this chapter, you will be able to accomplish the following toward the budget process:

1. Identify the components of a well-development budget for execution

2.Set the foundation for the entire budget cycle through the budget vision, leadership, and the agenda

3.Be able to complete the Management Team spreadsheet in the optional Business Budget Builder Microsoft Excel workbook that accompanies this book

Preplanning Activities

Four premises of this book are as follows:

1. The bases of budgeting are flexibility and adapting to the economy, market, and challenges the company encounters after completing the initial budget. ...

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