Project Report on Manage Budget and Forecast

Added on - 01 May 2020

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Running Head: Manage budget and forecast1Project report: Manage Budget and Forecast
Manage budget and forecast2ContentsDefine budgets..................................................................................................................3Expenditure and revenue list............................................................................................3Definition..........................................................................................................................3Fixed and flexible budget.............................................................................................4Fixed cost and variable cost..........................................................................................4Breakeven point............................................................................................................4Types of budget............................................................................................................4Double entry account........................................................................................................5Difference between accrual accounting and cash accounting..........................................5Role of budgets in an organization...................................................................................5Monitoring of organizational budget................................................................................5Importance of variance analysis...................................................................................6Preparing, document budget and forecasting estimates....................................................6Stakeholder’s contribution in negotiating the budgets.....................................................7List of the stakeholders.................................................................................................7Budget performance indicators.........................................................................................7Role of performance indicators....................................................................................8Reasons of cash flow........................................................................................................8Reasons behind cash flow reduction.............................................................................8Budgeting objectives........................................................................................................9References.......................................................................................................................10
Manage budget and forecast3Que 1.1)Define budgets:Budget is an estimation of future cost, revenues and various other resources over aparticular period of time which reflects over the reading of the future financial goals andcondition of a company household or government. One of the best admiration tools of thebudgeting is the assistance of the company to achieve the qualified objectives, measuring theperformance of the company and copying the foreseeable the adverse situation of thecompany (Weston and Brigham, 2015).Businesses are required to analyze various revenues and the cost to analyze the futureprediction about the performance and the profitability of the company. Followings are the listof the expenditure and revenue which must be considered by the business:Expenditure and revenue list:Expenditure List:Revenue List:1.Direct labour2.Overheads3.Direct material4.Machinery cost5.Vehicle cost6.Direct cost7.Indirect cost8.Withdrawals from the business9.Payment of liabilities10.Discount allowed (Lord, 2007)1.Total sales2.Revenue3.Discount received4.Amount received for the liabilities(Simmonds, 2000)Que 1.2)Definition:
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