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Budgets and Budgeting Process
Finance & Accounting
Pages 3 (753 words)
To: Maryam From: abc Subject: Budgets and budgeting process Since you known that our expanding operations are seeking more money to carry out their encompassing processes and to continue their expansion, therefore it is requested that you please focus on preparing a budget for the allocation of newly acquired capital…
By preparing an internal company budget, we will not only know the underlying cost objects in a process, but also we will know the cost each object is incurring. By knowing these facts we will be in a better position to undertake cost reduction strategies and optimize our capital allocation process. Since these are tough economic times, and we need to be sure that every penny that we are investing in our operations is producing a substantial return, therefore, it is important that we take an initiative to generate an internal company budget. The utility of this internal budget is immense. We can use this internal budget to construct a master budget for the lending bank. In this way, we will be able to send a firm message across to the bank, and show them that we are serious in doing business with them. By presenting them with the nature of our operational costs, we can enchant them with the opportunity to do future business with our company. ...
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