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Unformatted text preview: may alter it due to unplanned needs that arise, such as an equipment purchase. Altering the budget accordingly is suggested as long as the owner maintains focus on doing business while trying to plan a smart budget. In this case, it is important to budget both eh income statement and the balance sheet. The following are the types of question that should be asked when starting the budgeting process: How much can my business sell in a year? How much growth will follow? How will the product or service be priced? How much will production and operations cost? How much inventory will need to be kept on hand? How many employees do I need? How much will rent, income taxes, and equipment be? Source: http://www.entrepreneur.com/money/moneymanagement/financialanalysis/article21942.html...
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This note was uploaded on 03/26/2012 for the course F1515 F1515 taught by Professor Stan during the Spring '10 term at Keller Graduate School of Management.
- Spring '10