Business Portfolio: Budget

So far, we have discussed the following parts of our "Business Portfolio":

1. Organizational Chart
2. Putting your business into words
3. Mission Statement
4. Logo/Emblem

Today, let's introduce a new part of the portfolio called a BUDGET:

• A budget is generally a list of all planned expenses and revenues. It is a plan for saving and spending. In other terms, a budget is an organizational plan stated in monetary terms.

  In summary, the purpose of budgeting is to:

• Provide a forecast of revenues and expenditures i.e. construct a model of how our business might perform financially speaking if certain strategies, events and plans are carried out.
• Enable the actual financial operation of the business to be measured against the forecast.