I would like to know what are the benefits of budgeting for an organization?
467038
Aside from providing for the execution of the business plan, it shows what an organization claims it values.\n\nEvaluation of budget-to-actual shows what an organization *really* values.  When I take on a new client, I ask to see the budget-to-actual for past years.  Here are some secret codes:\n\nBudget-to-Actual doesn't exist = The organization is undisciplined and out of control or is a complete dictatorship.\n\nBudget-to-Actual reasonably matches = Probably a decent organziation that tries to do what they say they will.\n\nBudget-to-Actual way out of whack in a couple areas = They blew planning in those areas but otherwise okay.\n\nBudget-to-Actual is way out whack everywhere but revenue = The organziation is dictatorially controlled, doesn't do what it claims but rather what the COO/CEO wants.
266110
Budgeting involves planning your and/or your family's revenue and expenditure. Basic things you need to do related to this are:\n\n* Monitor expenditure and revenue;\n\n* Review your budget periodically as a result of this new information or to set new goals;\n\n* Have a 60-40 rule with 60% in fixed bills and rent and 40% on discretionary expenditure and 10% on irregular expenditure, savings goals, retirement and fun;\n\n* Try to have your rent or mortgage at now more than 25% of the budget;\n\n* As far as possible, Keep It Simple Stupid.
249837
Tell them what benefits they will have from doing what you want them to do.\nBenefits are the main things one need.
290951
Create a monthly budget. First, spend one month collecting receipts, bills, etc. and determining what percentage goes towards rent, food, entertainment, transportation, etc. From that, you can determine which costs could be eliminated. By doing that, you can determine how much you can save during a month!!
1123216
Most budgets are directly based on the amount of cash inflow. It's pretty much as simple as that. Base what you spend on what you earn. Manipulate the way you spend to fit the amount you earn.
795152
There could be many reasons.  But, ultimately it helps management actually manage the business better by having it broken out into functional areas.  \n\nYou can divide a business up into functional areas such as Human Resources, Finance, Accounting, Production, Research & Development (R&D), etc. etc.   Imagine how hard it might be to have one manager over all of those areas?  But if you break it out, and you have one person directly responsible for a function, they will most likely have an expertise in that field.  Such as an HR Director.\n\nFrom a cost perspective, you can track costs more accurately by functional areas and also allow each area to create its own budget and then you can do budget analysis to see if that area is adding to the overall profit of the business.\n\nHope that helps some.
788214
Use the envelope system.  Make a realistic budget for each category and when you get paid put that much money into each envelope.  When the money in the envelope is gone you don't buy anything else in that category.
555440
Capital budgeting typically refers to the process the firm's management uses to allocate its pile of cash.  There's really only three macro options: 1) reinvest in the business; 2) payoff debt; 3) give back to shareholder in form of dividend or share repurchase.  Within each option there are usually many suboptions.  \n\nFor instance, within #1, company management should identify a list of options for funding.  This might include expanding a factory, buying another business, upgrading technology, replacing worn out equipment or purchasing a patent to some technology.  \n\nWithin option #2, firms typcially have a range of debt on the books that can be paid off.  Some of the debt might have variable interest rates, some might have high fixed rates, some might have penalties around repaying early.\n\nCapital budgeting is the task of management to look at the range of choices across the first two macro options to decide which options have the best chance of generating financial returns that exceed a basic bank interest rate and funding those options.  Then management should take what's leftover and give it back to the shareholders via the most tax advantageous way possible (either dividend or share repurchase).  \n\nSo, things to consider are a) the bank interest rate, b) the risks of each of the choices in option 1, c) a ranking of the expected return on each of the option 1 choices (using NPV analysis), d) characteristics of the firm's debt portfolio and c) the tax implications to owners of the forms of owner distributions.\n\nI hope this helps...
1090153
What goes in: Every invoice or receipt that is paid out. Labor, lumber, permit fees, pizza for the local kids who might help, etc.\n\nIf you're computer-savvy, Microsoft Excel is a simple but competent way to keep track of the expenses. If not, then feel free to do it the old-fashioned way by pen and ink.\n\nSimplest way to organize it would be a sequential listing by month. At the end of the month, tally the month's expenditures. If you want information by category, e.g., how much have we spent on lumber to date, then you could make the colums as categories. In that case, a computer program such as Excel would come very much in handy but it's not critical.\n\nBest of success.
203594
In the beginning it is so much different b/c you are traveling to different places to network with people and figure out who's going to make what parts and then how they are going to get paid and when.  There is so much work that is done even before budgeting.  There surely needs to be some funding that can be tapped whenever to support the idea/business.  Depending on how big your funds are is what really determines your budget most of the time.  But when your looking to make money with a quality product, and not nesseccarily NOW (LOL), you have to sink what you have into it and then wait for it to catch on......word of mouth and from peoples peers are the top ways.  Plan out a time line of what you want to be and where in the next year and then break down your steps.  ex: Get a bunch of friends together and brain storm, search net to see where products can be ordered/made, plan trips accordingly, etc.  Planned things usually work better.
69572
The major advantages are that there an unlimited number of members allowed, there is generally no personal liability of the members, the entity is not taxed (profits and losses are passed through to the members), ease in filing with the states, and it is generally run through a Manager, rather than a board of directors (great for small companies or one that you wish to be similar to a closely-held corporation)
1135592
you need a cash flow forecast outlining all your expenditures putting them onto a spreadsheet. you will also need to know your budget to know what decisions are good or bad. this all depends on what the project is tho. you should seek advice from the business gateway they have been great with me when i was setting up business. they helped me with all my budgets x
747503
I'm currently the VP of Operations and IT for a non-traditional commercial lending bank.  I don't really remember what questions they asked me - but it's important when you're getting someone to do this particular job (operations manager) that they can deal effectively with people (maybe you ask what was the largest group of people they previously managed, or if their current employees were to describe them with 3 words what would those 3 words be), that they're competent with the systems that you're using, or if you're using something special (like you've written your own software) that they're able to pick up on that quickly, and that they understand how to analyze financial data, both for budgeting purposes (i.e. reporting to the board of directors) and for management purposes (i.e. budgeting for employee attrition as well as future growth).
435348
To prepare a budget following steps should be taken:-\n\n1.Identify the inflows and outflows.\n2.Segregate the essential outflows and define outlays for them.\n3.Keep in mind that the outlays should not overshoot the inflows.\n4.Always keep buffer for the unexpected/unscheduled outflows.
375731
One way I learned to make a budget was to save every receipt from everything I bought for one month, right down to fast food and gas. You may be suprised at what you spend money on. A little here and a little there adds up fast. Do that for a month and you can better write a budget for yourself.
689103
Oversees the spending/budgeting
880322
Some of the advantages are...\n\n1) They catch logic bugs you were not aware of (desk checking)\n2) They tackle a problem in different ways, some might be better than you implemented it.\n3) They can help make sure the system is closely following the requirements\n4) It can help garner some much needed "buy in" from others\n\nDisadvantages are...\n\n1) Conflicting opinions as to how things should be done\n2) Classic arguments\n3) If the committee is too picky about things, it can slow development to a crawl\n4) They discuss everything and very little action is actually accomplished\n\nSo in summary they are good for giving fresh perspectives about code leading to better written code and less overall bugs, but if they don't handle themselves totally professionally they can also slow the process leading to disagreements and hostilities as well as wasting budget money. You might have heard something along the lines of "Too many cooks in the kitchen"\n\nHope that helps you out.