How to prepare a budget
1. Quotable quote
A budget involves choices being made from competing demands for funding. In an ideal situation there would be adequate funding for all demands. In the real world this is seldom the case, and therein lies the challenge.
2. Quotable quote
Budgeting is a management problem, not an accounting problem - a planning activity, not a computational exercise. It is not mysterious and does not require some special sort of logic. It requires mainly the talents that most managers have demonstrated to get their jobs in the first place: planning, forecasting, estimating, and selling. It also requires, in common with any business activity, knowledge of a body of pertinent principles, approaches and techniques.
3. Viewpoint
"In these days of heavy competition on all fronts, companies and their managers need all the tools possible if they are going to succeed. They cannot afford to let their budgeting tool remain dull and rusty." …
