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  • Creating a standardized Budget

    I work for a loan company, when I was firstly employed I started as a loan officer, after my performance I was sent out as manager, where there was another manager that was leaving. As a new manager it was necessary for me to have a operational Budget. The money that was given by the CEO for three months, I divided into three that the office will not run out of cash.
    I have a weekly Budget, office expenditure, staff salaries. So that I will not enter another Budget. Therefore, creating operational Budget in necessary for all organization.

    M
    1 Reply
  • @Email said in Creating a standardized Budget:

    I work for a loan company, when I was firstly employed I started as a loan officer, after my performance I was sent out as manager, where there was another manager that was leaving. As a new manager it was necessary for me to have a operational Budget. The money that was given by the CEO for three months, I divided into three that the office will not run out of cash.
    I have a weekly Budget, office expenditure, staff salaries. So that I will not enter another Budget. Therefore, creating operational Budget in necessary for all organization.

    very good way to follow

  • Creating a standardized budget is very essential because of the following reasons:

    1.Compel Planning
    2.Improve Coordination
    3.Improve Communication
    4.Provide a Basis of Control and Performance Evaluation

    It is also an important tool for decision making, monitoring business performance and forecasting income and expenditure.

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