what steps are involved in creating a master budget/?

Answer 1

1) Calculate your income per month.

2) List your reaccuring expenses: monthly, quarterly and annual. In this figure, make allowance for food.

3) Calculate quarterly and annual expenses on a monthly basis (devide quarterly by 3, annual by 12)

4) Calculate expences on a monthly basis.

5) Bank an ammount equal to answer 4) plus 10% (at least) - allowing for inflation and exergencies. When bills come, pay them from this account.

6) The balance can be saved, spent or invested.

7) Give some to charity - sow some seed and expect a harvest.

Answer 2

The basic requirements are income outgoings and profit.
The marketing plan should include projected sales, from which income can be calculated. The costs of producing this income can then be calculated, including premises costs, labour costs, raw material costs, cost of sales, and other overheads.