The 6 Steps used in developing a budget occur in a specific sequence. Discuss your understanding of this sequence and how each step contributes to the budgeting process. Do you agree with the order of the sequence and why?

Six steps are;

1 establish a budget format

2 Prepare a sales forecast

3 Prep a cost of sales forecast

4 Project and cost-out labor requirements

5 Project and cost-out other operating expenses

6 summarize steps2-5 . Enter on the budget format