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What are the goals and reasons for planning budgets prepared?

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تاريخ النشر: 2014/09/21
Khalid Noor
من قبل Khalid Noor , Accounting Manager , FedEx

The goals and reasons are as follows:

  • Make Projections
  • Set spending
  • Determine Break Even
  • Set Prices
  • Track Progress and Make Adjustments
  • Secure Capital

Ahmed Abd Alwahab Awad Ibrahim
من قبل Ahmed Abd Alwahab Awad Ibrahim , Chief Accounting , ICCDP

The Goals for planning budget and prepared are

 

1- it is a plan to use funds efficiently

2- it is a plan to achieve company objectives

3- it help in decision making.

4- it used as a reference for evaluation performance

5- it provides accurate information

Abed  Othman
من قبل Abed Othman , Financial Administrative Assistant , United Nations International for immigration

budgeting  goals are set  for  income  ,cash flows and financial  position  

reasons  of  budgeting  used for  1-planing  -communication and  coordination3-monitoring  4-evaluation      

Tanveer Qureshi
من قبل Tanveer Qureshi , Director , Qureshi Associates

Budget is a part of overall planning process.Budgets set out the cost and revenues that are expected to be incurred or earned in future period. Most organizations prepare budgets for business as a whole. The following budgets may be prepared by organizations:

1.Master Budget

2. Departmental Budget (sales, production, material, labour, overhead)

 

The main aim of budgeting are:

A. Planning for Future

B. Controlling Costs

C. Coordination (working together to achieve common goal.

D. Communication-Budget  communicates the targets of organisation.

 

Asim Azaldeen Abdalrahman Mhammed
من قبل Asim Azaldeen Abdalrahman Mhammed , Property Manager , TAAM PROPERTY

Defined resourse and how to ues it for carry out goals if the company ..

ABUBAKR OMER MOHAMED
من قبل ABUBAKR OMER MOHAMED , رئيس الامتثال , بنك فيصل الاسلامي

Follow-up, monitoring and evaluation

Mohamed Esam Mohamed Kamel
من قبل Mohamed Esam Mohamed Kamel , Financial Analyst , Egyptian Water & Wastewater Regulatory Agency (EWRA)

Budget planning is the process by which a company or individuals evaluate their earnings and expenses and project their monetary intakes and outakes for the future. The goal is to lay out all necessary components and brainstorm future goals.

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