The budget review process is necessary as it scrutinizes a particular budget. This is aimed at ensuring that the budget is correct and it represents the needs of an organization in the best way possible.
Companys undertake a "budget" review at least monthly but certainly quarterly. This is to see if the budget is being followed, identify any areas where the budget is facing issues and put in place measure to fix shortfall. It is good practice to review on a regular basis so that any unforeseen issue are responded to in a timely manner
Budget committee comprise top managers who draft budget manual and budger calendar, and also review and approve budget for operational departments.
Incrementalism
a budget of income and/or expenditure applicable to a particular function. A function may refer to a department or a process. Functional budgets frequently include the following: production cost budget (based on a forecast of production and plant utilization); marketing cost budget; sales budget; personnel budget; purchasing budget; and research and development budget.A functional budget is the budget that is achievable and is related to a specific unit or process or function or department of the organisation. It is a group of related activities aimed at accomplishing a major service or program for which a unit of government is responsible.A functional budget is prepare for a process of function.
The budget review process is necessary as it scrutinizes a particular budget. This is aimed at ensuring that the budget is correct and it represents the needs of an organization in the best way possible.
Review & Enactment
Review and Enactment
Review and Enactment
Review and Enactment
Review and Enactment
Review and Enactment
Review and Enactment
Review and Enactment
Review and Enactment
Review and enactment
Review and enactment