A budget is a quantified financial plan for an upcoming accounting period. The budget process has four phases which allows people in various departments (operations, human resources, IT, etc.) to list their expected revenues and expenses in the final annual budget. Department, program and budget managers utilize various reports and analysis tools to interpret performance to budget during the year.
At the conclusion of the module, participants will be able to:
- Describe the Budgeting Process.
- Utilize tools to Monitor and Control Spending.