How To Create Develop And Monitor A Budget Accounting Essay

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In this thesis I'll try to explain how to create, develop and monitor a budget. It is helpful with a total organizational budget and a budget for a particular project. Suggest tools for assessing the costs and tips to make sure that the budget meets the project's requirements or that of the organization and complies with the general company's policy. Hereunder I'll give concrete examples of budgets and the way they can be created and controlled.

1.2 Why Budgeting is Needed

Budgeting is the key to economic management. The tools help to design, development and effective use of budgets in a company or organization. If we have a good understanding of the principles of budgeting, we'll be well on the way to good management of finances. Using tools, as mentioned above, the capacity of our organization effectively manage finances. It can also enhance the capacity for foresight and planning.

1.3 Budgeting Tools and their Purpose

Budgeting tools are very helpful to people with little or no experience with budgeting. Maybe you have not been involved in running an organization, project or department. Or maybe you have not been involved in financial aspects of project management. Faced with the job to develop a budget or budgets, and we're not sure where to start. If we are in a situation like this, then tools will be useful.

Value of Budgeting Tools

Once we've done the strategic planning for an organization and the planning action and we need to know how much money we need to achieve what was planned.

When we calculate how much it will cost for a project or service to perform.

When investors request for a particular area of the company's business to support.


Prior to the development of budget something must be done in developing a budget to make it up "while on the making". It is a good practice, like in other areas of management, to maintain in the budget, clarity of purpose, careful planning and good thinking.

Among the questions people should ask themselves in the preparatory phase of the training budget, while the development of a real budget, are:

Did last year when we spent less but with the same or better results?

During last year money were wasted. Can we prevent this in the future?

This is a part, to consider:

What is a budget that should be involved in budgeting, and why our budget?

Operational Plans

The cost

Sources of funding.

These are all issues that must be addressed before they begin to develop a budget. This is an extension of the programming process for which the budget is based.

2.1 What is the Budget

A budget is a document translated into projects of the money - the money will be spent for planned activities (expenditure) and money will be needed for the cost of the project benefits (income). This is an estimate about how much cash will be needed to get the job done.

The budget is:

Written in hard copy - where necessary, the budget may change, so long as it takes measures to assess the impact of changes to address. For example, if someone has budgeted for the ten new computers but discover that what we really need is a generator, could buy fewer computers and purchase of the generator.

Just a record of expenditure for the previous year, with an additional 15% added for inflation. Every year is different. (See the chapter on different budgeting techniques.) Organisations should use the budget process to discover what is really needed to carry out their plans.

Only for administrative and financial claims of the creditors. The budget should be ready as a presentation for a funds proposal and after that can be stored away until there is time for a financial report for the investor to make. It is a living instrument which should be consulted daily, monthly checked, constantly monitored, and used whenever the need arises.

It presents normally an optimistic but realistic picture of what things actually cost - do not underrate material or other costs hoping that this will help raise the funds needed. It is better to return money not spent to creditors than to request for a "little more" in order to complete the project or job.

Two important questions we must be able to answer when preparing a budget are:

Why need a budget, and

Who should be the people to involve in budgeting?

2.2 Why Need a Budget

What is the importance of the budget for an organization, project or department?

Budget is an essential management tool. Without a budget, it's like a ship navigating in fog without instruments.

Budget tells us how much we need to conduct our business.

Forces the responsible for the budget person to be rigorous in thinking through the consequences of his own, or planning activities. There will be times when the budgeting process will force us to rethink our previously set action plans.

When properly used, a budget can indicate when we will have to add money or take action.

The budget allows anyone to see the income and expenditure and identify any particular problems.

The budget is a basis for accountability and transparency. As everyone can see how much is spent and received, and can obtain information about different questions.

We cannot raise funds from other sources, since we have a budget. Creditors use the budget as a basis for determining whether it is what he calls a reasonable and well run establishment.

2.3 People to be Involved in Budgeting

Budgeting is a responsible and not very easy task. An organization can do what it intends to do to be financially dependent on the budgeting process to survive. Those involved with the budget should:

Have a good understanding of the values, strategy and plans of the organization or project management;

Have a good understanding what it means to be economically efficient and cost effective;

Understand what is involved in the production and raising capital.

To ensure that we have all these ideas is usually a good idea to have a small group of people to deal with the budget. This can only mean one person to draft the budget then debated and discussed by the group.

When employees are competent to assume full responsibility for the economic aspect of the organization or the project is to advance to the next line the following would be involved in budgeting:

The Director of Finance and / or accountant;

The project director and / or director of the agency or department.

Where staff lack confidence in the budget than do members of the Board may be brought in. Some parts have a financial committee and a budget sub-committee. It's a good idea to have someone on the board with financial skills. He / she can help, the staff training budget.

The budget is a matter for everyone in the organization. At least, senior staff need to understand the budget the way it is written, it is important and how to attend.

When an organization has branches and / or regions, or different departments, each sector, region or department should draw up a budget for their work. Then they (together) to a total budget for the agency. Every branch or department should be able to see how the budget fits into the overall budget, and must be able to monitor the budget on a monthly basis. The best way for monitoring financial works is per month when it is closest to the costs claimed responsibility for the budget.


Business plans are the core of the actual work. Instead of business plans, they call them action plans. In a normal cycle of planning, organization or project will begin a strategic planning process. Here we look at the problem be addressed and the specific role of the organization or project to address. This in turn has to do with the actual activities will be undertaken to achieve the desired results. This is the business plan and an operational plan should be "valued." No one can prepare a budget to know what has been programmed to do. Operational costs will be made only when the real work begins. It is also known as direct costs.

One may wonder whether they are at least a budget for expenditure will be able to prepare - such as rent, telephone, stationery - before he / she involved with strategic planning.

No. Such expenses do not concern budgeting. His / her own overhead costs should depend on what he intends to do. For example, if he decides to focus / activities of her husband in the country, he or she can decide what is needed is much smaller offices in the urban area is the traditional basis of the work. Thus, the overhead costs or core affected by operational plans.

The planning cycle should be something like in the following drawing of a budgeting tool:

3.1 Categories of Estimated Costs

Cost estimates help to determine realistically how much it would cost to implement the operational plan. During the execution of projects will probably need to use a wide range of data to do so.

Inputs are the people, information, equipment, skills. Most of these data will be associated cost. This is the cost needed to estimate a budget for development.

Accurately estimate of the cost helps in many ways, like:

Helps to develop a detailed budget and

Helps to monitor and control the actual cost of activities carrying out.

The required cost for the assessment is in the following categories:

Operational costs - direct labor costs, e.g. the cost of renting a location or print a publication, or traveling to places where the fieldwork should be done. This should include transport, equipment, materials, and services.

Organisational costs (some call core costs) - the cost basis of organization, including management, administration, governance. Once you determine the best organizational structure of business plans to support, will be making organizational expenses on a regular basis - even if they carry out plans or activity levels as high as hoped.

For example, if the rooms for four projects to manage, but only to run two, or even pay rent for the extra space. Hired as a full time receptionist in the same belief, continues to pay her salary, even if it is underused.

Staff costs - these are the costs of management staff - the people involved in company's or project's management, the people doing the work that run a Project. (Such costs can be included as a separate category under "the organizational costs.") These costs include salaries and any benefits such as medical assistance or contributions to pension funds for which the organization is responsible. Someone may be "personal charge" on various projects where employees work. For example, such as Office Service Officer, half a year to spend the time working on publications for a specific project, then half the salary and benefits cost for the project.

When a director goes to 15% of his / her time to devote to the management support to the head of the same project, then 15% of the time and benefits can also be attributed to the project.

Capital costs - are costs for large "investments" which, while it may be necessary because the plan or plans, organizational capability is maintained even after the project ended. Vehicles and equipment such as computers and copiers to fit here. They can be used by all projects, or may be imposed only for a specific project. Depending on what you intend to use the equipment and could be in the budget for operational costs or organizational costs.

3.2 Why does it matter to categorise cost estimates

Because many investors and lenders prefer to finance the operating costs (or, as sometimes they put the direct cost of the project) rather than basic organizational and personal expenses.

Frameworks for assessing the cost

Note: Depending on the needs of an organization or project, the figures are somewhat different. The tables below should give some guidelines.

Following these considerations, it may be desirable for a percentage of various types to be allocated to specific services or projects. This is an acceptable practice.


4.1 The Source of Finances

This is the tool to develop a strategy for financing, there are many ideas on how an organization can generate income. The package of tools for writing a grant, there are some suggestions about how to explain to an investor or creditor and how a grant that does the job - raising money for the project realization.

Here we consider how to deal including the revenue budget.

4.2 Which Categories should be Included in the Budget of Income?

This will depend on the usual, or planned, sources of income. Some possible broad categories:

Negotiated loans

Possible Loans

All loans

Income from sales

Income from services


Special Events


Membership fees

The budget must be a reasonable estimate of the expected revenue can be generated from each category. This will serve as a target for income generation.


While the budget depends to some extent on information from an organization or project, there are certain guidelines that apply to projects and organizations.

5.1 Budget Requirements

These rules are not fixed once and for all. They provide guidelines to help cope with everyday situations.

It is customary for the long-term projects and organizations on a budget that project over several years at a time. Although generally the budget for the coming year, it really accurate forecasts for the coming years an indication of funding levels may be needed. Usually make allowances for inflation in coming years, and for activities which can be different from those of the first year. For example a three-year budget should be based on a company's three-year plan.

Non monetary contributions, such as goods, should be included in a note to the budget. Although they are not part of the budget, they reduce the budgetary costs and should therefore be mentioned. This includes the contribution of volunteers in the form of equity.

Costs to consider, and which often are overlooked:

Start up costs - for a new organization or project, such as large-scale recruitment, relocation, conversion, launch of the project or organization.

Research and development - consultation, needs assessment, the planning process.

Democracy and governance - the establishment of structures, recruiting for them, getting a constitution drafted and accepted, training members of voluntary structures.

Marketing or public relations - building a professional image.

The replacement of capital equipment.

Monitoring and evaluation of projects.

The estimates are guesswork, not just guesses. Homework, citations, phone to arrive at an estimated cost. Check the numbers, if any, from previous years which may provide useful information. Take note of any price increase already known (e.g. a wage increase of 10% agreed.) Note down any unusual expenses that can be expected (e.g. company's office relocation). A few dollars may seem a lot, but multiplied many times these differences can make a big difference in the budget.

Take notes! While planning the budget and decide on how costs are assessed, taking notes by hand, so to go back and see where the figures came from. May, for example, to develop cost workshop based on a certain amount for photocopying, based on the estimated cost per page. Then a year later, costs are higher than expected, then return to the note and see where the gap is or, in another scenario, an investor, or creditor would like to learn how you're at the cost per workshops participant.

For management purposes, to break the budget for the coming year in a monthly budget. This will monitor the cash flows of the company. It will also help to appreciate quickly the differences.


Positions are the actual items in your budget. Thus, for example, can be considered as "costs of training", "stationery" as specific rule. In the category of "good governance", "training of Board members" may be a specific rule.

The one responsible for the budget has to decide which categories will be, what items in each category will be. For example, an organization can understand the "good governance" in "Management" and the agreement "creditor" under "financing", while another may have two distinct categories or items.

How to decide which categories and items that you use in your estimates?

If this is the first time you've finished a budget, start with a list of all the elements that go to the organization or project money. Later, an idea of the categories and elements that are useful to an organization or project, it will be possible to take shortcuts in the list of items.

If the list is there, group things into categories according to emphasis on the categories of company management practices. For example, if, as management, believe it is important to keep track of training costs, then "education costs" would be a category. Items such as stationery, venues, costs printing, food, housing, transport, trainers' fees and do so to post in this category. But perhaps the organization has little training and only intends to follow training conducted as part of a larger project. Second, the category could be "Project X" and "training" would be an element of the line.

Think in terms of cost centres. A cost centre is a grouping of other financial services that unify. For example, any project in the program, a cost centre. Where income and expenditure for the costs and keep financial records centre in terms of cost centres. This allows each project, department or service valued financially. When choosing an approach, cost centre, cost centres to determine the main categories listed topics. If this route to follow, the "supervisor" would be a cost centre and as such would be the "training" or "publications" or "resource centre."

It is sometimes possible to know how a class of cost free, even if this category is not listed as such, and the item is displayed as a line under a number of categories. Thus, for example, can not be a category "transport", but want to know how the transportation costs of the project or organization, can add the position of transportation under different categories.

If the intention of raising funds for a particular category to cover, it is clear that this category is distinct in the budget. For example, to raise funds for capacity building in communities, you need a category in the budget which is entitled "Capacity building in communities". Among the items like "workshops", the wages of workers on the ground "," transport ", etc.. The budget notes should explain how to arrive at the" workshops "amount.

6.1 How can Determine which Categories and Items to Include in the Budget of Income?

See the chapter on where the budget's income comes from. Here are the categories required for the budget income. In a category such as "sales" could have items such as "training", "publications", "handicrafts" depending on what the company sells. Under "possible donations" that you may have items such as collections, direct mail appeals, funding, and so on.

6.2 Different Types of Budgets

Besides the main working budget - which is expected to generate or enhance realistic and how it will be past, may also be "and if the budget options." "What if" budgets to prepare for the unexpected - whether good or bad. The "what if" budgets may include:

Survival budget. This is the minimum required for the organization or project to achieve its goals and be profitable.

Guaranteed budget. This is based on the guaranteed income when the budget is planned. Usually the "guarantees" are in the form of promises by creditors or investors. However, there may be unexpected situations, as an investment through very late, making it necessary to pass the budget of survival.

The best budget. This is related to what one might do if he has extra money to spend. Once additional funding is, or has promised, it becomes a part of an operating budget.


The two main techniques for budgeting are supplementary budgets and Zero phase based Budgeting:

Supplementary budgets are budgets in which those figures are based on actual expenditures in previous years, with an additional percentage increase for inflation for years to come. It is a simple method to save time, but the "lazy" and is often incorrectly. This budgeting technique is only suitable for organizations where each year is very similar to the previous one in terms of actions. Very few organizations or projects are dynamic so stable that this budgeting technique really works for them.

In zero-based budgeting, recent figures are not used as a starting point. The budget process starts from scratch on the proposed activities for the year. The result is a more detailed budget and precise, but it takes more time and energy to prepare a budget that way. This technique is essential for new organizations and projects, but it is probably the best route to go in a dynamic organization that is proactive in taking new challenges.


In this chapter we address some of the questions often asked about the budget under the following headings:

8.1 Budgeting Price Increases

How to allow for price increases in the budget process?

Budgets are prepared in advance. There are probably increases between the time of preparation and the time the amount spent or received. We must take this into account when budgeting done by estimating the cost or value will be when the expenditure is made or the income.

If there is a likely increase in costs we must make sure that we estimate for an increase in what we charge in fees for services or selling products.

We must reckon for budget consideration, because some creditors or investors who are asked to provide additional funds and may have acquired shares, we must clearly answer that our calculations were based on a lower percentage of the inflation than actually found to be true.

8.2 What Kind of Details Are Needed

How detailed we need our budget to be?

The answer is not an easy one. If we provide less detail, the more flexible we are. If we show all, e.g. allowing the budget to be open, makes it less useful as a management tool. This does not mean that we must include and show each and every company's detail in the budget items. So, for example, we have a global figure for "training" as part of a project, provided our own notes on how we arrived at the amount. In general, however, the detail, while one can restrict the negotiations with creditors or investors, by getting useful information from management.

One way to deal with this for several versions of the budget for ourselves and for investors and potential investors. The investor would be more flexible and less detailed version, and version management, less so.

In general, the investor / creditor version follow the directives of the Agency to finance what it wants to present our budget. If the agency has no written guidelines, speak to the project or desk officer who deals with our field work and for advice on how to prepare the budget.

The management of the budget is translated into the accounts and to the extent that the budget is detailed, the accounting system will be clarified and will be able to gain valuable information about where and how to spend money or generate income.

8.3 Contingency Amounts

What is a contingency amount?

A contingency amount is an amount you set aside to deal with unforeseen events. Although the budgets should be informed guesses, there is an element of "guessing" in them. The future is uncertain and organizations and projects have to survive in uncertain times. As a result, some organizations create a "contingency" line item in the budgets of their - usually about 10% of the total annual budget.

However, many financial institutions do not like this and refuse a "contingency" fund post, possibly because they believe that organizations and projects should be more accurate in their budgeting. One way to deal with this, the contingency sums to build the main items in the budget, allowing for an additional 10% above budget calculations.

Budgeting income generating projects. How to budget for a project not only expensive but also generate revenue for the organization?

An example is a program which we are responsible and which we expect to make a profit over time.

The total budget for the project or organization, we can include the costs in line items of expenditure and revenue line items in income. However, for management purposes we want to be able to monitor in more detail than this, to determine at what stage can be ordered at a break-even point is reached. Your accounting data should be established so easy to make (see the glossary of terms) for managing access to this information.

8.4 Time Frames

Organisational budgets (for the entire organization) are usually calculated for one year at a time (based on the year of the organization). This also applies to ongoing departmental budgets. Once we have an annual budget, it is best to be split into months, for management purposes. A monthly breakdown facilitates monitoring.

When we have a budget that covers several years, should ensure that this budget is based on a medium-to long-term plan, and is not just an inexperienced guess.

Budgets for specific, time-bound projects can be calculated for the entire life of the project. For the control is probably best to break this overall project budget in years (where the project runs over several years). We can also decide to break in months.

8.5 The Budget

By now we have done all our preparatory planning and be ready for the preparation of our budget. As we work through this chapter, we refer to the budget in the example - consolidated budget.

It is useful to think about the process of preparing a budget in stages. By now we already have the first three steps as part of our preparatory work for developing the budget:

A list of the items on which you spend money. We will know what these are our action planning process. Group the items under headings or cost centres.

An estimate of the cost per unit of the posts and then the annual cost.

An overview of the likely sources of revenue or income. Categorize are. This is the basis of the income budget.

Now we are ready to begin bringing the budget into a budget format. The remaining steps are:

Prepare the budget format.

Do the addition.

Add in notes to items that may not be obvious to explain.

Get feedback on the budget.

Complete the budget.


The budget may be based on a simple word processor. If we have access to a spreadsheet program like Excel or Lotus 123, and we know how to use them, it makes our job easier. But it is not essential.

The budget format should be compensation for both income and expenditure reflected. We can go to the example of a consolidated budget to see how this is being done.

The budget format must conform to the agreed categories and items that are important to the organization or project.

The budget format for an organizational budget should enable the introduction of expected payments for about three years, as in the example of the consolidated budget.

The format should also allow for sub-totals and a total expenditure amount and the total income.

It is important to remember that the format used for an investor may differ from the model in use for their own management. In the example of the consolidated budget, can be found a version management, rather than an investor or financier version. For most donors, it is possible to simplify to some extent. So, for example, we can all "sales" under "income" in an aggregate amount under the heading "sell". We did the more detailed budget, because we believe it is the management version that the most important.

The difference between revenue and expenditure budget is likely to show whether a deficit (too little money) or an excess (more than necessary) have. If there is a large deficit or the need to reduce spending or increase or generate more money. If there is a large surplus is probably necessary to adjust the amount we ask creditors or lenders. Financiers are generally reluctant to fund a surplus. However, if we try to create a fund for capital investment, then we need to explain to the donors and ask them if they are willing to contribute in the interest of long-term sustainability of the organization.

It is now time to insert the actual costs in the budget. As we have already done the preliminary estimate of the work that should not be difficult.

Complete the amounts we have for each item in the budget in three years. Thanks to our estimates and be careful to get good numbers. Make sure that our way of working notes will enable us money if we are asked by a financier or a board to be justified.

Add subtotals. Check them out.

Add totals. Check them out.

Calculate whether there is a surplus or a surplus. Determine how to handle this situation.


The budget, we need some notation. These amounts or positions that would explain a financial or a board member or another member of staff or management team can puzzle. Anticipate questions they can ask for and use notes to explain. We do not need to litter our budget with explanations, but only if something can be good puzzle, explaining in a note. This will save time when answering questions.

In the example of the consolidated budget, we see that the explanation given separately, but a reference in the budget. For example, there is a note explaining why the cost of transport in "Training" goes down in 2 years. We had a letter from a company or government agency has been a service in kind, then an article in at least one would normally expect to provide. We had a note on wage increases and organizational policies that rising wages to explain the period of three years.

The questions point to include budget notes clear and transparent, and anticipate. Read the budget if we were a potential donor and creditor. This will determine where the notes will be useful.


Once we wrote the budget, we have also audited, and in the notes that we deem necessary, it is time to get feedback.

Who should we feedback?

Among those who have worked with us in developing the budget.

Others in the project or department.

In our finance department or accounting.

Directors (unless we are the Directors).

Our Board or sub-committee on Finance and Budget Sub-committee of the Board of Directors.

What information do we need?

The categories and items - everything must be included is included?

In the notes - they explain everything that needs a special explanation?



Once we have the information, make necessary adjustments to the budget, recheck our calculations, and finalize the budget.

Finalizing our budget does not go to that and never look back.

Once the budget is finalized, it is time to implement - both in terms of revenue generation and implementation of necessary activities that incur costs. The budget provides a basis for our work of supervision and this is discussed in the next chapter on monitoring the budget.


The budget is the most important tool we have to monitor the finances of our organization, project or department. We use the budget:

The income and expenditure of the monitor to see if we're on schedule;

How financial information to our staff, board and shareholders or financiers;

Cash flow;

Make financial decisions.

13.1 Budget Control

Budget monitoring is used to measure how well an organization to achieve its objectives in terms of its finances. The comparison of income and expenditure of budgeted income and expenditure must be regularly performed. To do this, we should be able to report a discrepancy. This show, month by month, we exceeded, a sub or on purpose. To order a report on the differences and be able to make projections of cash flow, divide the total budget of a monthly budget.

The monthly breakdown is what gives our management tool. For an example of distribution of a monthly budget, go to a monthly distribution model.


The purpose of reporting on the basis of the budget is to show those to whom we are accountable, or those involved in our work or we do the work and determine if we are the resources we need to work ahead. When we relate to our budget, we report on the extent our financial planning is our actual financial performance.

The declaration of variance compares the revenues and expenditures in the revenue and expenditure. The declaration of the variance gives us a glimpse of what happened in the reference period (one month, three months, etc.). It also gives us an overview of the financial performance of the year so far ("year to date). An explanation of the variance tells us if there are developing trends in financial performance, we must be aware. It allows us to take steps to correct the problems. For example, if the declaration of variance shows that we have repeatedly been spending too much on paper every month, we have:

Keep a tighter control on the paperwork;

Recognize that we have under-budgeted on paper and moving the money elsewhere in the budget for stationery, or try to raise more money or to generate the projected deficit.

More importantly, we must understand that not everything is perfect and able to take corrective action before the problem becomes uncontrollable.

Spending too much is not the only problem. Sometimes when we're small, we have a spending problem. For example, an organization which believes it is well below the budgeted expenditure for education identifies the problem as too little activity in the Training Department. This may mean re-planning for the rest of the year to ensure that objectives are achieved.

When we relate to our service, our superiors in the organization and our board, we do it a declaration of the variance.

On the next page you will find a convenient estimation for a declaration of the variance. When we have a difference of 10% or more (too much or too little), we find an explanation and, if necessary, corrective action.

Statement format of the variance:

Watching the cash flow

The cash flow forecast is a tool that enables us to anticipate the expected income and expenses on a monthly basis. It describes how the price will flow into and out of our bank account. Looking at our cash flow, we can determine when we do not have enough money to our account and take corrective action. The "map" we have our budget is divided into months, with additional lines at the end shows a net inflow or exit projections, and our opening and closing bank balances.

In the following lines we summarize what our financial situation (money in the bank) is probably at the end of each month.

The information on the net inflow / net outflow will come from our budget in months, then subtracting the estimated expenditures of our anticipated revenues.

14.1 Steps to Create a Projection of Cash Flows

The annual budget of detail in a monthly budget based on anticipated revenues and expenses for each month.

Total monthly income and expenses and subtracting one from another to obtain a net input / output.

Add the money in the opening balance of profits or losses resulting from subtracting the opening balance.

Now, we will limit our bank balance that shows us how much money we are likely in the bank at the end of each month.

This monthly update actual.

Compare the estimated cost for the next month with the balance of the end of the money earlier.

If the expenditure of money available for distribution, then immediate corrective action.

What forms a corrective action takes?


Imagine you go.

Try to accelerate the collection or entries.

Ask the bank for an overdraft on the basis of promised income. (It is usually best to use a credit at the bank before we need it - just in case! But do not use it unless the money comes that).

14.2 Decisions

The budget monitoring is not just something that we do learn more about our financial performance of an organization or project. We need the information to make decisions.

The cycle is as follows:

The success of the process depends on the ability of people with management responsibilities to make decisions and act. The steps are:

Prepare the basic information. (Budget, monthly pause)

To obtain information on financial performance.

Analyze the information and what it reveals.

Look at the potential impact on the strategy and financial plans.

Establish a list of options for action.

Ask a consensus and a mandate to act.

Share corrections and the plans with the rest of the organization and, where appropriate, with financiers.



Obtain learning during the budget process.