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Budgeting process of a large retailer

What are budgets? Describe the budgeting process that a large retailer might use.

300 words with reference.

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A budget is a detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time period. Budgeting helps managers make decisions about resources needed and financial results expected for the coming period. Budgets are used to control activities of an organization because they set out a plan for the entire organization.

Budgeting Process

We will use 'bottom-up' approach for a large retailer. This begins with the detail of expected or desired sales and costs and accumulates the budget from the detail. Neverthless it has ...

Solution Summary

What are budgets? Describe the budgeting process that a large retailer might use.

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