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When a budget is compiled its based on information at the time of creation and the income/expenditure that a company will undertake normally for the nest trading year. These are assumptions. If during the trading period unforeseen expenditure is forced on accompany, if income drops to unexpected levels (i.e. a customer becomes bankrupt owing money) the there will need to be changes made to the budget to account for this. By reviewing the budget against the business one a monthly or at least bimonthly period changes to forecast can be made in a timely manner and buffer the company. The intention is to minimise the impact of the budget becoming uncontrollable and losing the company profits.
The other reason for review is to identify areas where spend is required to take place i.e. purchasing new machinery, investing in a new product. Where budgets are not used companies will recover that amount back into the profit margin and in the following year reduce the allocation to that department.
What else can I help you with?
Why organizations set budgets?
They need to have a budget because they have to know how much money will be needed on the plan
Why should budgets include a savings plan?
It helps people record how much they save and what they need to fix on their budget.
How long does it take to get your income tax return back after you are audited?
Have patience and wait until the IRS completes the processing of your information and make any adjustment that they determine they need to make.
What is the best software for keeping track of household expenses (I need something that is very easy to use)?
The site Mint.com has been popular lately for its easily understood approach to budgets and finances. PearBudget also claims to be very easy to use.
What role do past cost play in relevant costing decision?
Past costs can play an important role in making future cost budgets. The previous costs can help individuals budget how much money they will need for future production of similar objects.
Reviews?
Opting for a car from a reliable brand will save you money in the long run by reducing the need for frequent repairs and maintenance.
Why does a business need to set budgets?
it is important they set budgets because they could easily need more than they can pay.
Do you save money from budgets?
Although budgets may not help you save money when a need arises, a budgetwill cut down wastful and useless spending.
How do you adjustment valve ford focus 2000 SP?
On the ford foucs 2000 need to adjustment yes or no
Why do ships need frequent painting?
Sailing Ships need frequent painting because the air in the sea is salty so it will rust
Are the bicycle rear wheel bearings loose and in need of adjustment or replacement?
To determine if the bicycle rear wheel bearings are loose and need adjustment or replacement, check for any play or wobbling in the wheel when it is spun. If there is noticeable movement, the bearings may need adjustment or replacement.
Why do sailing ship need frequent painting?
Sailing Ships need frequent painting because the air in the sea is salty so it will rust
Does ECU need adjustment after Spark Plug change?
no
How do you adjust steering wheel?
There will need to be an alignment done on the vehicle to straighten the steering wheel properly. The adjustment to make it straight is called a "toe Adjustment". If it pulls while driving causing the steering wheel not to be straight it will need a Caster or Camber adjustment or all of these may need adjustmnet.
What is a sentence for adjustment?
I have several sentences for you.I need a back adjustment because my muscles are too tense.You need an attitude adjustment!Adjustment of the brakes of your car could help you to stop more quickly.
Why organizations set budgets?
They need to have a budget because they have to know how much money will be needed on the plan
Why does my clutch pedal on my 1997 Chevy S-10 go all the way to the floor when pressed Does it need adjustment If so how do I do that?
There is no adjustment on this clutch. The clutch is hydrolic, you may need to bleed it.
