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Companies need budgets for several reasons. Some of them are:
1) To plan for the future expenditure
2) To Plan for new ventures or expansion
3) To decide if there will be a need to borrow more money for operations
4) It also helps achieve different types of goals
5) To make sure that money is being spent efficiently
6) to cut down unnecessary expenditures
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∙ 14y ago
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All budgets depend on the sales budget?
Yes, all budgets depend on sales budgets because budgets can't exceed the amount of available money. When sales are poor, the budgets will be smaller.
What are non-financial budgets?
Budgets are not expressed in dollar value termed non-financial budgets.
Why do costs need to be controlled and Why is it important to monitor budgets?
Costs need to be controlled because your costs cannot exceed your budget or you will have a negative balance; thus you would not be making any money. you also need to monitor your budgets as your budget always needs to be more than your costs or your business will go out of business.
How many budgets have been presented up to date?
Budgets for what specifically?
What are some legitimate companies that offer consumer debt solutions?
A legitimate company that offers consumer debt would be the Greenpath Organization. They strive to help customers pay off their debt and maintain balanced budgets.
What is the purpose of the company Budge and Company?
The purpose of the company, Budget and Company, is to help companies with their finances. Budget and Company helps companies that need help handing their budgets and financing.
Why does a business need to set budgets?
it is important they set budgets because they could easily need more than they can pay.
The similarities and differences between standards and budgets?
One similarity between standards and budgets is they are both predetermined costs. A major difference is that companies can report inventories using standard costs but not budget costs.
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 are statistics budgets revenue budgets and operating budgets related?
ask your brain
All budgets depend on the sales budget?
Yes, all budgets depend on sales budgets because budgets can't exceed the amount of available money. When sales are poor, the budgets will be smaller.
What is operational budgets?
About operational budgets can be read in
What are non-financial budgets?
Budgets are not expressed in dollar value termed non-financial budgets.
What is the significance of financial statement and budget?
A financial statement needs to be prepared for all large companies as part of the Accounting Standards. It is a legal requirement to do so. It will provide a record of the financial position of the company, from which calculations can be made (i.e. ratios) which can be compared to former years to analyse how the company is doing financially. The result of these ratios can aid in the preparation of budgets. Certain budgets need to be increased, other may need to be decreased or removed. With budgets it is important to compare budgeted cost to actual cost and analyse the variations to determine the efficiency of operations for the specific department or item that the budget was allocated for.
In periods of downturns in the economy many companies slash their advertising and promotion budgets explain why this is not always the best strategy to pursue?
Not a good strategy because in an economic downturn, lots of companies are forced to look at alternatives to save money, etc. Thus, advertising budgets should be increased. Unfortunately, big companies forget to allow their sales staff to advertise and end up spending too money during the 'good years'.
What are some companies which provide cheap health plans?
There are many types of health plan available in the UK, examples of companies are Aviva, PruHealth, SimplyHealth, AXA PPP healthcare and Bupa. These companies have a wide range of plans available to suit most budgets
How much do companies spend on marketing?
It is not unusal for a company to spend 10% of it's budgets on marketing. Smaller businesses have less resources avialable to them however.
