3
Dear Colleague,
Budgeting is a beautiful exercise which will cover all your activities, transactions and will be a guiding tool for you for the stipulated financial year/s. There are various key factors to be added in budgeting:
1. The Budget Vs Actuals of previous 3 reference years for each of the Heads of account
2. The projection for the Current FY for each corresponding Heads of account
3. The numbers proposed for the next FY for each of the Head of account
4. What are the assumptions under which the current numbers and projected numbers of next year are taken to be elaborated
5. What are the Budgeting principles adopted to the briefed at the beginning itself in the Budget
6. Any new transactions, initiatives, products, process, legal requirements in the budget year are to be figured and given due important
7. The Fixed and Variable, Capex, Functional Budgets are all to have linkage and to synchronize with he overall organizational budget
8. All those factors that are proposed newly are to be taken on Zero Based
9. Generally for the proposed budget year a " Zero Based Budget " approach will be good and accurate
10 Add any contingency factors like sudden or unexpected aspects that might arise and give due importance for that
Overall Budgeting is a very useful exercise as well as tool which you may do it with lot of passion and every month create MIS and BP Vs Actuals comparison and Variance Report as part of Budget Monitoring and Control
From India, Chennai
Budgeting is a beautiful exercise which will cover all your activities, transactions and will be a guiding tool for you for the stipulated financial year/s. There are various key factors to be added in budgeting:
1. The Budget Vs Actuals of previous 3 reference years for each of the Heads of account
2. The projection for the Current FY for each corresponding Heads of account
3. The numbers proposed for the next FY for each of the Head of account
4. What are the assumptions under which the current numbers and projected numbers of next year are taken to be elaborated
5. What are the Budgeting principles adopted to the briefed at the beginning itself in the Budget
6. Any new transactions, initiatives, products, process, legal requirements in the budget year are to be figured and given due important
7. The Fixed and Variable, Capex, Functional Budgets are all to have linkage and to synchronize with he overall organizational budget
8. All those factors that are proposed newly are to be taken on Zero Based
9. Generally for the proposed budget year a " Zero Based Budget " approach will be good and accurate
10 Add any contingency factors like sudden or unexpected aspects that might arise and give due importance for that
Overall Budgeting is a very useful exercise as well as tool which you may do it with lot of passion and every month create MIS and BP Vs Actuals comparison and Variance Report as part of Budget Monitoring and Control
From India, Chennai
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Create bell curve in XL.doc
HR BUDGET.zip
Create Your Own face.xls