what are the characteristics of successful budgets?
150016
["The Budget Must Address the Enterprise's Goals. ... ", 'The Budget Must be a Motivating Tool. ... ', 'The Budget Must Have the Support of Management. ... ', 'The Budget Must Convey a Sense of Ownership. ... ', 'The Budget Should be Flexible.']
694310
['Its contribution to objectives.', "Its primacy among the manager's tasks.", 'Its pervasiveness.', 'The efficiency of plans.']
1259408
['Motivation. Successful business types are doers who make ideas happen. ... ', 'Hard work. Success does not come easy. ... ', 'Focused passion. Entrepreneurs have passion that drives the blood, sweat and tears. ... ', 'Nonconformity. ... ', 'Leadership. ... ', 'Street smarts.']
1225589
An effective budget provides more than a forecast or tracking of income and expenses. A small business can use its budget to stay on top of financial trends it can use to take advantage of unexpectedly good performance and react in time to downturns in cash flow.
143430
['Aspiration. Successful people have clear-cut goals. ... ', 'Drive. One of the most defining traits of successful people is their drive. ... ', 'Willingness to learn. One of the most important traits of successful people is a genuine desire and willingness to learn. ... ', 'Patience. Is patience a virtue? ... ', 'Discipline. Success rewards consistency.']
408671
Budgets deal with the here and now as well as the near future. A budget where finances are adequate illustrates where the money is going. ... The main focus of a long range plan is not necessarily on money, but rather on illustrating strategies and actions for achieving desired goals that may or may not involve finances.
742059
['Passion.', 'Risk-taking.', 'Flexibility.', 'Self-confidence.', 'Management skills.', 'Networking skills.', 'Financial management skills.', 'Grit.']
1310093
['Budget planning.', 'Cost tracking.', 'Time management.', 'Project change controlling.', 'Earned value use.']
343222
['A Financial Plan – which is a budget projected out by month for the next 12 months. ... ', 'A Marketing Plan – which is what drives your Financial Plan.']
1442898
The three major objectives of budgeting are described below: To set the goals for the future actions. To implement the strategies to accomplish the preset goals. To compare the actual results with the budgeted results periodically.
133150
['Accuracy: ADVERTISEMENTS: ... ', 'Timeliness: There are many problems that require immediate attention. ... ', 'Flexibility: The business and economic environment is highly dynamic in nature. ... ', 'Acceptability: ... ', 'Integration: ... ', 'Economic feasibility: ... ', 'Strategic placement: ... ', 'Corrective action:']
636436
['Understandability. The information must be readily understandable to users of the financial statements. ... ', 'Relevance. ... ', 'Reliability. ... ', 'Comparability.']
282133
['Resolute motivation and passion. The first and foremost quality of a successful entrepreneur is passion. ... ', 'Self-discipline. This is one of the most essential characteristics of a successful entrepreneur. ... ', 'Risk-taking ability. Entrepreneurship is all about taking risks. ... ', 'Creative thinking. ... ', 'Persistence.']
1190874
The purposea and benefits of identifying priorities when preparing a budget are: A budget helps you to manage the available money in a very effective manner. Identifying the priorities and the resources available will help one to allocate appropriate resources to relevant or prioritised projects.
519569
['obtaining. you obtain financial resources form employment, investments, or ownership of a business. ... ', 'planning. planned spending through budgeting is the key to achieving goals and future financial security.', 'saving. ... ', 'borrowing. ... ', 'spending. ... ', 'managing risk. ... ', 'investing. ... ', 'retirement and estate planning.']
1460273
['The No Budget Budget.', 'The Spending First Budget.', 'The Savings First Budet.', 'The Anti Budget.', 'The 50/30/20 Budget.', 'The Zero Based Budget.', 'The Spending Ceiling.']
1290919
['be capable of handling figures and cash;', 'have an orderly mind and methodical way of thinking;', 'have experience in dealing with large sums of money and budgets;', 'have experience of financial control and budgeting;', 'have an eye for detail;', 'be available to be contacted for ad hoc advice;']