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Module 1: Budgeting

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Budgeting requirements

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XSIQ
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Accounting - Budgeting requirements

Budgeting requirements

* a receipt but not revenue

* revenue but not a receipt

* a payment but not an expense

* an expense but not a payment

* to provide more accurate information in the budget for the business to
act on

* to better identify periods of cash shortage leading to decisions to
improve cash flow

* to better identify cash surplus maximising the return on excess funds

* to enable quicker reaction to previously unforeseen events

* to have better planning and control as a response to reviews of the
budget with actual results

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