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Why Do Businesses Need To Do Yearly Budgets

By Dominic Shum A budget is a financial blueprint of a business in respect to planned activities in a specific period of time which is usually a year. Sometimes it is referred to as the yearly budget or annual budget. It is a plan of action in monetary terms that is compiled from departmental or Read More

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Why do we need Budgets?

Businesses carry out the budgeting exercise yearly to ensure that they have a set of performance data that they can use as a guide to operations in the coming year. However, in an article by PwC (FSI, 2010), they claimed that “Executives and other stakeholders have long vilified the budgeting and planning processes“. As a financial executive doing Read More