Preparing a Budget

Mentor’s Message: The Power of a Well-Prepared Budget

It’s budget time again. And if you’re a new manager, you may find the process of preparing a budget a bit intimidating. After all, there’s more than one type of budget and more than one way to approach the budgeting process. You’ll need to be sure that the budget you prepare will reflect an action plan that’s right for your department and company. A thoughtfully prepared budget is a powerful tool for any enterprise, as it helps companies evaluate managers’ effectiveness and lay out plans for achieving important strategic goals.

This book walks you through the process of preparing a budget. We’ll explore the benefits of budgeting, examine the various types of budgets and approaches to budgeting, ...