Budgeting

An essential part of being in business is predicting what your income and expenses are expected to be in future periods. This way you can control your costs, and set targets to enable your business to perform to its best ability.

Once monthly targets have been set you can then compare actual costs with budgeted costs to see where they has been any variances, and also investigate why that variance has occurred.

A budget is often necessary to obtain finance, as lending institutions such as banks and finance companies like to be able to see how the business is going to perform in future years.

We can help you to set a budget for your business and prepare reports highlighting the variance between the actual and budgeted income and expenditure each month.

This involves - preparing estimates of future sales preparing estimates of the future day-to-expenses of the organisation based on regular fixed costs such as rent, insurance, wages, rates,  interest etc preparing estimates for variable costs such as stock purchases, repairs, new equipment, vehicle expenses.

 

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CHARTERED ACCOUNTANTS
Richmond, Nelson.