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Budgeting Services for Companies

The preparation of budgets, should not be just a list of figures. Focused on the business objectives, with targets communicated effectively can drive values as well as motivate staff.

BridgePoint Accountants in Birmingham, would see the preparation of the budget through from agreement of objectives with directors and staff, gaining feedback at every stage, to the creation of the financial budget and communication to employees and stakeholders.

In addition the process should not end there. We would expect there to be periodic reporting of performance against budgets, presentation to Directors and discussion on actions to be undertaken.

Why create budgets for your business?

Running a business often requires business directors to carefully plan and review their financial budgets.  Business budgets is one of the most important accounting tools that company may use in their business. Budget helps to aid the planning of actual operations by forcing managers to consider how the conditions might change and what steps should be taken now and by encouraging managers to consider problems before they arise. Other essentials of budget include:

  • To control resources
  • Limits expenditures
  • Create Financial direction
  • Set resources aside for future growth
  • Motivate staff/managers and analyse performance

What is business budgeting?

A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organisations, activities or events in measurable terms.

Why contract BridgePoint Accountants to plan your budget?

Many large companies have a dedicated and financial teams which deals with budget planning. A major benefit to creating a business budget is the ability to limit and control how much money is spent on business operations. Business budgets are often great indicators which departments and areas of business are most profitable and which area of the business need looking into.

To find out how BridgePoint Accountants in Birmingham can assist your company with budgetting services, please contact us to book a free consultation. If you wish to speak to us about our budgeting service give our accounting team in Birmingham a call on 0121 231 7080.

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