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Starting a Business All-in-One For Dummies, 3rd Edition
book

Starting a Business All-in-One For Dummies, 3rd Edition

by Eric Tyson, Bob Nelson, The Experts at Dummies
April 2022
Beginner content levelBeginner
656 pages
17h 51m
English
For Dummies
Content preview from Starting a Business All-in-One For Dummies, 3rd Edition

Chapter 5

Controlling Costs and Budgeting

IN THIS CHAPTER

Bullet Getting the right perspective on controlling costs

Bullet Comparing your P&L numbers with your balance sheet

Bullet Focusing on profit centers

Bullet Becoming familiar with the budgeting process

Bullet Preparing your first budget and applying advanced techniques

Bullet Using the budget as a business management tool (and more)

What’s the first thing that comes to mind when you hear cost control? Cutting costs, right? Well, it may come as a surprise, but slashing costs is not the main theme of this chapter. Cost control is just one element in the larger playing field of profit management. The best, or optimal, cost is not always the lowest cost.

A knee-jerk reaction is that costs should be lower. Don’t rush to judgment. In some situations, increasing costs may be the best path to increasing profits. It’s like coaching sports: You have to play both defense and ...

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Publisher Resources

ISBN: 9781119868569Purchase Link