what is the process of developing budget plan?

Answer 1

Expenses (Essential costs, essential costs but reducible, non-essential and reducible)

(MINUS)

Income

(EQUAL)

Surplus/deficiency

Answer 2

1. MAKE A LIST OF ALL EXPENSES, DO NOT ASSIGN NUMBERS OR COSTS, LEAVE THIS LIST OPEN SO MORE CAN BE ADDED.

2. When step 1 is thought to be done, assign cost limits to each area based on week or month (which ever you choose).

3. Total up expenses and subtract the total from income.

4.Make adjustments to expenses so that the answer is + 1 or more when step 3 is repeated.

BEST THAT CAN BE DONE - NOT KNOWING WHAT THE BUDGET IS FOR.

Answer 3

Spend a fair amount of time thinking about, in detail, how the business would operate...Imagine yourself there. Think: location (store front, office bldg, home), legal expenses to incorporate state/federal, renovation necessary?, where are the products/services that I'm offering coming from what are those costs, employees, insurance, FICA, cleaning supplies, computers,shipping expense, utilities, banking fees.....etc.

As you think along those lines write down the category of expense that it would be called. after you've completed your list
then go back and begin to put an approximate figure and refine the amounts until the Budget reflects reality.

Answer 4

1. Decide where you want your money to go

2. Decide how much money you want to go in each place you want it to go

3. write the plan down