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The budgeting process

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Describe and give an example of the budgeting process in any business and if you could improve one thing about it, what would that be?

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The response is 221 words in everyday language suitable for novices. Practice example given.

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The budgeting process starts with a sales forecast. From this expectation of product demand, the production budget is crafted. Once production is known, the expenditures and activities that must be incurred to bring that production about are planned (materials, labor, overhead). The costs of running the business (general, admin and selling ...

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Carol Sargent, PhD
Education
  • BSc, University of Virginia
  • MSc, University of Virginia
  • PhD, Georgia State University
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