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Budgeting and profit planning plays a vital role in business as it helps to forecast the future possibilities and positions in a business. It will not be possible to understand net profit and net loss without proper profit planning. The balance sheet gives a clear picture of calculation of assets and liabilities. Budgeting and profit planning need guidance from accounts department to understand the revenue and expenses incurred to run the business.
Students studying budget and profit have to practice accounts and maths. This particular assignment may need lot of graphs and figures to explain the topic clearly. As such it may become hectic for a student to complete the assignment without help and guidance. Not to worry as our online service for budgeting and profit planning assignment help is available to ease your burden.
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Budgeting and Profit Planning
In simple words, budgeting is balancing expenses with the income. Budgeting allows planning in advance if a business will have enough money to do the things important to run it and earn the profit. For operations, budgeting includes preparation of estimated future sales, future cash collections and disbursements. Thus three important points to be considered for budgeting is calculation of expenses, calculation of revenue and price for profit.
- Profit planning
Profit planning is a part of budgeting and is done to achieve profit in the business. However, it is not as simple as it sound. Managers have to come up with various objectives and steps which are important to give the right direction to earn the profit. Various advantages of profit planning are performance evaluation, awareness of responsibilities, cost consciousness, disciplined approach to problem solving and future planning.
There are different points to understand in budgeting and profit planning and if you have problem writing your assignment on this, simply approach our experts at budgeting and profit planning assignment help who is experienced and knowledgeable. They will complete your assignment in simplest way possible.
Budgeting and profit planning is very important for a business as it keeps a track of the expenses incurred at present and expenses suppose to happen in future for a specific period of time. It also helps management to see the trend which has been there for the past years and make necessary changes if required.
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