Download Budgeting for Managers by Sid Kemp PDF

By Sid Kemp

Managers in all kinds of corporations and environments has to be capable of organize, or at the least comprehend, a practical and results-oriented funds. Budgeting for Managers--rich in useful concepts and examples--walks the reader during the whole budgeting strategy, from simple monetary strategies and their use in making a price range to tools for monitoring genuine spending.

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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.

It is best if our internal accounts, our actual income, and our payroll pay rates match both what we really do and what we report to the IRS. Working with Multiple Periods When we’ve gathered all the past numbers, we need to put them together and make sense of them. In doing this, we need to pay attention to the organization of the past periods that we’re using. There are two parts to this. The first is that the records may be a mix of daily, weekly, monthly, quarterly, semiannual, or annual, and we need to bring these together.

Popular saying I n Chapter 1, we introduced an expense budget for a single year. Now, we will look at the bigger picture of budgeting. In the first section, we’ll look at shorter-term (monthly) and longer-term (multi-year) budgets and how they link together. In the next section, we’ll look at how the work you plan to do is the best source of information for your budget. Then, we’ll take a look at forecasting income. We’ll close the chapter by introducing some terms and concepts from accounting.

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