Some businesses take their key team members away from the office for a few days to plan the next 12-months activities.
Key issues for consideration in the preparation of a budget include:
- production targets
- labour budget including individual productivity forecasts
- stock / inventory budget for the control of purchases of goods
- work in progress budget for the control of work activities being conducted within the business
- direct material purchases budget – for the recording of items being purchased for the benefit of a customer
- overhead budget
- sales budget
In recent months we have included commentary on preparing forecasts for:
If you would like our assistance in the preparation of a budget for your business or organisation, check out how we can help with your FY19 budgeting and forecasting or contact Collins Hume's business advisers in Ballina or Byron Bay on 02 6686 3000.
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