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Finance - F6

Introduce Budgeting & Forecasting

This Method shows you how to forecast and therefore establish a basis, for controlling income and expenditure in every part of the organisation

The purpose

Learn how to make realistic assumptions about future sales, costs of sale, overheads and your business environment. Break it out by month and year, linked to your management accounts to track profits.

Summary

Runagood® Business Methods are online, practical instructions that have been created by business owners who’ve successfully implemented them before.

You can select from their recommended actions, assign responsibilities, set times and budgets, track progress and share and discuss the work remotely with colleagues and your Business Advisor, all from any device.

Steps included in this method

  • Forecasting cashflow
  • Forecasting profits and losses
  • Preparation
  • Forecasting the balance sheet
  • Budgeting
  • Budget implementation
  • Set Up An Accounting Package