Future Forecast is something we do not believe in; but in financial terms this can be done by applying Budgeting techniques. Budget planning is the most effective way to keep your business - and its finances - on track. Budgeting is an important aspect of business. As with any business, lack of budget planning and managing can badly affect your business functioning. But once your business starts functioning, it is essential to plan and tightly manage its financial performances
Different types of budget that we expertise in:
MASTER BUDGET: The overall budget of the organization can be rightly said to be the master budget of the business. It comprises of all other budgets. It is very beneficial for the top management as the whole situation of the organization can be easily known by having a glance over the master budget.
FINANCIAL BUDGET: Finance is said to be the nucleus of any business without which no organization can grow. Finding the exact time when is the money needed is most important necessity. The budget is made to forecast the cash and capital requirements for different projects. Moreover the various sources of finance available are also compared in order to find out the most economical source available with the organization.
SALES BUDGET: The budget is made to forecast sales in terms of units sold and value of goods sold. This budget acts as a base for making production budget. If we are aware of our sales position we can easily concentrate on other major fields like marketing those products and the financing requirements needed at regular intervals of time.
PRODUCTION BUDGET: The budget is made on the basis of sales budget and forecasts the number of units to be produced in coming months and how will production schedule be adjusted to meet the sales target. Many other requirements like that of labor, raw material etc is dependent upon the production budget. read more...
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