Meet with management to set the budget for the coming year and beyond
This will involve going through each line on the balance sheet and profit and loss to determine what assumptions will be used to set the budgeted amounts. We will systematically discuss all parts of the business to identify opportunities for improvement. We will provide management with historical analysis including trends and ratio analysis that can be used to aid in the budget construction. A monthly budget will be prepared for no less than a 12-month period. This budget can be revised on a periodic basis as management deems necessary.
Benefits of Budgeting
- The budget sets the direction for the business
- Budget setting discussions unlock ways to improve performance
- Targets (with incentives) can drive improved sales or better expense/cost control
Connect with an Axcelerate professional and keep your budgets on track systematically