Improving Budgets

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Income Budget is the planned income for a business a over specific period of time

Expenditure Budget ia the planned expenditure for a business over a specific period of time

Profit Budget is the planned profit for a business over a specific period of time

Benefits of Budget

  • Motivated staff
  • Ensure spending isn't out of control
  • Profit budgets provide a focus for the entreprenuer
  • Establish priorites indicating level of importance
  • Provide direction and coordination- geared towards business aims
  • Assign responsbility- identify the person

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