The Annual Budget: Financing Your Plans


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The Annual Budget: Financing Your Plans
10102021010204The Annual Budget: Financing Your PlansOnce management has decided on a business plan that sets company goals for the next year, the managers need to find out (a) if they can afford to achieve those goals and (b) if the plan will make a profit for the company. Those questions are best answered by converting the operating plan's goals and actions into dollars and cents, and then breaking them down into chunks that can be evaluated and managed during daily operations. That's the purpose of the annual budget. The budget is the estimate of the financial resources that will be needed and the financial outcome of all the actions the managers will tak…
Citation
Gene Siciliano, C.M.C., C.P.A.: Finance for Non-Financial Managers. The Annual Budget: Financing Your Plans, Chapter (McGraw-Hill Professional, 2003), AccessEngineering Export