Budgeting and forecasts
‘A budget tells us what we cannot afford, but it does not keep us from buying it.’
In Chapter 7, we looked at how businesses build their business case from a financial perspective – in effect, examining the future cash flows on a discounted basis.
In this chapter, we aim to pull together everything that has been covered in this book and examine what budgets are, how they are prepared and how they are used to control the business.
By the end of this chapter you will be able to: ...