Chapter 9
Budget Basics
In This Chapter
• Understanding budgets and variance reports
• The importance of staying on budget
• How to cut costs quickly
• The basics of credit management
Nearly every business decision must be considered in light of how it affects the budget. The budget itself is the result of management decisions regarding priorities, trade-offs, and the needs of the business. Future decisions that depart from those reflected in the budget must be made carefully and with sound justification. Also, problems may arise when a department deviates from its budget. In these situations, a manager has to understand budgets, variances from the budget, and cost control.
This chapter shows you how to understand a sales or expense budget and ...
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