By Sid Kemp
Managers in all kinds of corporations and environments has to be in a position to organize, or at the very least comprehend, a practical and results-oriented funds. Budgeting for Managers--rich in functional concepts and examples--walks the reader in the course of the whole budgeting strategy, from easy monetary strategies and their use in making a funds to tools for monitoring real spending.
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Additional resources for Budgeting for Managers
For example, if a custact with the customer to tomer ordered a lot early in the year the purchase, including and not much recently, you can call and ask if there were any problems. the delivery of the item. (If You might win the customer back. ) For expensive items, salespeople might have to call on customers several times over months to close a deal. In that case, you should talk with the salespeople about how things are going now, and then predict future sales from their reports. Before we finish estiCycle time The length of time it takes to commating sales to current plete any cycle.
First, some figures may be missing. Second, two sources may disagree. Maybe accounting says we spent a certain amount on supplies and our records show a different number. When we find these gaps, we should try to understand the reasons. If we can get detailed line items to compare, that makes it much easier because we can drill down and find the differences. When numbers are simply missing, we may be able to do some calculations. We might have a total figure for the budget (possibly on the corporate financial statement or tax returns), so we can subtract the figures we do have for some categories and what remains is the amount of money spent on the unknown categories.
George Santayana T he future will not be the same as the past. We hope it will be better. But the past is a good place to start when we want to make our budget for the future. We can learn four things from the past: • How records were organized and kept • How much money was earned or spent at a particular time • What trends show up in the past that may continue into the future • What relationships there are among items in our budget A simple example will illustrate how the relationship among line items in our budget is useful for estimation.
Budgeting for Managers by Sid Kemp