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Stages in the Preparation of a Budget (Communication (of budget policy to…
Stages in the Preparation of a Budget
Communication
of budget policy to those preparing the budget
Identification
of limiting factor - usually sales levels, financing, etc.
Negotiation
of budgets with supervisors/managers
Preperation
Revenue Budget
Production Budget
Materials Budget
Labour Budget
Coordination and Review
Overhead Budget
Production Budget
Trade Receivables Budget
Trade Payable Budget
Cash Budget
Income Statement
SoFP
Final Acceptance
Ongoing Review
compare actual results with budget
explanation of variances