6/26/2023 0 Comments Cost of you need a budget![]() ![]() Problems are far less costly to fix on paper than with actual dollars. ![]() Prevent problems-A budget allows you to forsee problems and alter your plans to prevent those problems. Monitor performance-A budget is a yardstick to measure how your organization is performing.Ĭash management-A budget helps you determine how much cash you will have, how you will use it, and whether you have enough cash to achieve your financial goals. It is organized in the same format as a financial statement and most commonly covers a 12-month period. What is a budget? A budget is a forecast of expected income and expenses. Although it seems like a lot of work, a budget is an indispensable tool for converting your plans into a successful reality. Does your organization really need to prepare a budget? Yes, it does.
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