Briefly Outline the budgeting processes (what are general components of a budget )relevant to the case study above. Just need to write down the steps of the budget process that you are planning based on the given scenario and the given flow diagram:

 

Transcribed Image Text:

Image: Planning and Budgeting process This flowchart illustrates the Planning and Budgeting process, which includes defining budget objectives; accessing historical and actual data; developing a base budget; preparing, reviewing and refining a budget; posting and reporting results; and monitoring progress and amending the budget. Access Define Develop a Base Budget Historical and Budget Objectives Actual Data Access Data Refine r'Budget and Prepare Budget Monitor Post and Review Progress and Amend Report Results Budget Image: Planning and Budgeting process This flowchart illustrates the Planning and Budgeting process, which includes defining budget objectives; accessing historical and actual data; developing a base budget; preparing, reviewing and refining a budget; posting and reporting results; and monitoring progress and amending the budget. Access Define Develop a Base Budget Historical and Budget Objectives Actual Data Access Data Refine r'Budget and Prepare Budget Monitor Post and Review Progress and Amend Report Results Budget

Answer rating: 100% (QA)

Budgeting is a proces of setting a reserve fund exclusively for a specific business operation For ex... View the full answer