Dear readers, budgets are nothing more than an anticipated cost with the purpose of carrying out an activity or service. That is to say, when a budget is made, it is to have a better idea of the expenses that can be originated at the moment of carrying out the project that has been stipulated. In this sense, Burbano and Wlesch (2005), mention that budgets are the quantitative expression to direct its operations through the correct application of its strategies and a systematic method which are used for the achievement of the objectives that it has in a determined time.
It is important to keep in mind that budgets are a great tool for companies because, through it, it is possible to determine if what the company intends to do is feasible or not for it. On the other hand, budgets influence the management of business, and help us in making decisions, for this, it is important to have specialist people to help manage and somehow help the growth of a company and thus meet the objectives either short, medium or long term.
One of the benefits when applying budgets in business is that it can determine both what will be spent and what can be earned at the time of making any investment, it also plans each of the activities that the company can perform. Likewise, the company can determine in advance any problem regarding the costs that may be generated.
Finally, it can be said that budgets are essential for the management of businesses regardless of their size, at the time of forming a company should evaluate all the tools that are needed as it is a way to establish controls that can be of great help to them, it is for this reason that it is necessary to have responsible people who have experience because a bad control can cause big problems and at times even losses.
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Burbano, J. (2005). Budget. University of Valle. Colombia
Greetings friend @amestyj, an excellent topic, due to the importance of making a good budget for a company, in order to achieve what you want to do, with the money you have at the moment, and thus determine the feasibility of achieving our goals.
Now when talking about this topic, we can apply it in all areas of our life, considering that we must make a budget in our hagar, that we can cover the necessary things, thank you very much for sharing this topic.
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Hello my dear friend @chucho27 you are absolutely right we must apply this important element in any field, good example when you mention the home, since, managing our resources efficiently at home will allow us to efficiently cover the basic needs and any other essential component for our welfare.
See you later, have a great start of the week.
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Hello @amestyj
I think budgeting is a kind of art in which you mesh many aspects of the present, to have a better forecast of what could eventually happen, what you could produce from what you have.
It is definitely something that we should apply not only at the time of having a business, but in daily life, because we have some resources at our disposal that only by making a good budget we can be more efficient in what we want.
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Hello dear @joseva217, you are right when you mention that a good budget not only lies in business, we can also take it to our personal expenses in this way we can efficiently distribute our money in things that are really necessary, it is a tool that allows us to make a financial planning.
Have a great start of the week.
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Hello dear friend @amestyj.
As usual you share with us another extraordinary delivery, it is very true what you express:
Totally agree with you, budgets will always be essential tools within any type of business, therefore, we must be very clear about this aspect, and also in our personal life has equally essential importance for our family performance.
Great content my friend thanks for sharing it with all of us. Greetings and many blessings to you and your family.
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Greetings my dear friend @rbalzan79, thank you for your valuable comment, making a budget allows us to organize and plan according to our capital and thus distribute it efficiently. It is something that we must take into account to be more efficient in the management of our economic resources.
Have a great start of the week.
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A lot of new business have to change the way they do things. They have to eliminate recurring tasks by automation. And things for which they lack skills they have to delegate them. That way they can move the business from being stuck to some level of movement. And so budgets have to handle those sort of changes. Many times business have budgets but they spend on things that don't scale and end up in debt.
#affable #india
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Hello friend you are absolutely right, at the time of making a budget we must take into account any changes that we think may occur in the company, on the other hand, if from the budgeted we start spending money on items that are not budgeted and without interest for the business will undoubtedly bring an economic imbalance.
Have a great start of the week.
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Hello @amestyj
Thank you for socializing with all of us these considerations about budgets in companies, certainly this that you express in your post "the company can determine in advance any problem regarding the costs that can be generated", this in my view the most important element, since having a budget allows us to adjust when investing.
Best regards, be well.
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Greetings my dear friend @lupafilotaxia, good point, without a doubt if we make an excellent budget, this will allow us to manage our capital well, allocating part of it to certain investments if we wish. It is an element of which we must make use to be more efficient financially.
See you later, have a great start of the week.
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