The Importance of Budgeting for Small Business Planning and Decision Making - Essay Prowess

The Importance of Budgeting for Small Business Planning and Decision Making


Kindly ADD to CART and Purchase the Full Answer at $5.99 ONLY.


Creating Your Personal Budget For this assignment, you will apply what you have learned in this unit to a small business. To get the business’s finances under control, you need to prepare a budget. You may consider items from your personal finances and cash flow to help you identify possible expense items for the small business budget. Research the CSU Online Library or the Internet for steps to creating a personal budget. Monthly expenses might include rent, utility costs, personal loans, car loans, credit cards, groceries, childcare, vehicle maintenance costs and insurance, phone charges, and cable or streaming costs. Cash flow considerations might include monthly salaries, commissions, and allowances. You can use any budget format that you are comfortable with, or you may select a free template. Your budget should be completed using Excel. Once you have completed your budget, in a separate Word document, address the information below.

  • How can the use of the budget be used in the planning process?
  • How can this financial information influence short-term and long-term decisions?
  • Based on your personal budget, what are your static expenses? What are your flexible expenses?
  • As an accountant, reflect on how you can use what you have learned in this activity in the workplace.

Your submission should include one Excel document, which contains your budget, and a one-page Word document, which contains your responses to the prompts above. You should include at least two resources to support your responses. Adhere to APA Style when creating citations and references for this assignment.

Assignment Preview:

Creating a budget can be a useful tool in the planning process for a small business as it allows the business to forecast its expected income and expenses. By comparing the two, the business can determine if it is generating enough revenue to cover its expenses and potentially make a profit. A budget can also help a business identify areas where it may be able to cut costs or increase revenue.

The financial information contained in a budget can influence short-term and long-term decisions made by a business. For example, if a business’s budget shows that it is consistently spending more than it is earning, the business may need to make some short-term changes, such as reducing expenses or increasing revenue, in order to improve its financial situation. In the long term, the business may need to make more significant changes, such as restructuring its operations or seeking outside funding, in order to become financially stable.

In a personal budget, static expenses are those that remain the same from month to month, such as rent or a car loan payment. Flexible expenses are those that can vary from month to month, such as groceries or entertainment costs. It is important to track both types of expenses in a budget in order to get a complete picture of one’s financial situation.

As an accountant, the skills and knowledge gained from creating a personal budget can be applied in the workplace in several ways. For example, an accountant may use budgeting techniques to help a business create a financial plan or to forecast its financial performance. An accountant may also use budgeting to identify potential financial risks or opportunities for a business and to make recommendations for improving the business’s financial performance.


Order your Copy Today

Our Services Our services Our services Our Services
Custom Research Papers
Sample papers
Custom Term Paper
Descriptive Essays
Dissertation Abstract
Dissertation Help
Dissertation Proposal
Dissertation Topic
Dissertation Writers
Dissertation Writing Service
Do My Essay
Do My Essay For Me
Do My Paper
Doctoral Dissertation
Editing  Writing
Essay Help
Essay Outline
Essay Topics
Essay writers
APA style
Plagiarism Checker
gantt maker
Essay Editing Services
Essay questions
Buy Essays Online
Buy Term Paper Online
Write My Essay
Do my homework for me
Academic papers
Admission Essay Writing
APA Style Paper
Assignment Services
Book Review
Business Essay
Business Report
Buy custom essay
Case Study Services
Cheap essays
Cheap Research papers
Chicago Style Papers
Essay Writing Service
Capstone Project 
Citation Generator
Buy Term Paper Online
Literary analysis essay
Application essay writing
Argumentative essay
Cause and effect essays
Compare and Contrast essay
Critical Analysis Essay
Article critique
Assignment help
Biology paper
Buy college papers
Buy Dissertations
Buy Essays online
Buy projects
College Essays
College papers
College Term Papers
Essays for Sale
GCSE coursework
Research Papers
Research paper topics 
Term Paper Writing
Definition essay
Descriptive essay
Expository essay
Five paragraph essay
Narrative Essay
Personal Essay writing
Scholarship Essay
Economic Essay
Buy Essay
Online Writing Services
Buy Cheap Essays
Coursework Help
Course Work Writing
Critical Essay Writing
Custom Essay
Free Essays
Free Term Papers
Grammarly Checker
Turnitin plagiarism checker