In addition to that we also make assumptions in

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predict these amounts to exact numbers. In addition to that, we also make assumptions in regards to the business environment such as suppliers, the general economy, legislation and policies, political environment among others. To make more accurate assumptions, thorough research needs to be done. Apart from the research, the source of the information should be reliable and backed by evidence. Budgetary Skills One of the most important budgetary skill that a manager should possess is discipline. With discipline, a manager is able to keep within the budget. Researching skills is also important when preparing a budget as you need to gather information from sources. Analysis skills and basic financial statement understanding are also crucial skills.
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BUDGETING 2 The skills can be improved through experience and proper research on the basic items of any budget. The best resources for information is professions in the various fields such as lawyers and accountants. Trusted sources such as financial journals and websites can also be a good source. Application The most important that I have learned is the general budget preparation process as a whole. I can now prepare better budgets compared before I started taking the lessons. Thanks to the course I believe I am a better manager and can make better use of scarce resources. As a manager, I can now approach my role differently by always planning ahead.
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