This is July ending. In less than a month, you all will be busy preparing Budget 2014.
Are you ready?
Learn Techniques of Budget preparation on 2nd August.
You will learn –
- Making ready your Budget Norms – forecast of economic activities – Interest rates, Inflation %, Oil prices, Expected increase in Labor cost, etc..
- Your 2014 Budget cannot be actual spend in 2013 + 10%.
- You should learn what’s the Trend.
- Also, Implement Zero budgeting, to remove abnormalities.
- Do you have established Chart of Accounts? If not, learn preparing one.
- This is important for budgeting and later, posting actual spending. Wrong posting is a hazard – it gives weird picture.
Let me give you an example.
Your sales team travels for selling. Where do you post their Traveling expenses?
Do you charge it to Travel expenses or to Sales expenses?
The worst is, one year you charge to Travel expenses and the next year to Sales expenses.
And, while making the budget, adding 10% will give you absurd data for budgeting.
There are many other pitfalls.
Let us look at it together in a workshop on 2nd August.
Please visit ccisg.com ——-> Course calendar ——-> August 2013 ——-> Course Title ——-> Techniques of Budget preparation ——-> Register for the course.
Suresh Shah, M.D., Pathfinders Enterprise