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In making a budget for your business.. What is the first budget type you should go through and what next??

Budgeting
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Question added by Tamer Elbeshbishy , Financial and Administration Manager , Muscat Towers Holding Group
Date Posted: 2014/08/31
Upvote (0) Views (3) Followers (3) Answers (3) Report Question
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Ahmed Abd Alwahab Awad Ibrahim
by Ahmed Abd Alwahab Awad Ibrahim , Chief Accounting , ICCDP

The first budget have to start with is

 

Budget of Sales

Amr Askar
by Amr Askar , Contracts Director , HASSAN ALLAM CONSTRUCTION, Egypt

the Budget making processes can be as follow:

 

1) Rough order of Magnitude; which created during the intiation phase (-25% to +75% from actual).

 

2) Budget Estimate; which created during the planning phase (-10% to +25% from actual).

 

3) Definitive Estimate; which updated during the execuation / progress phase (-+10% )

Hujat Ullah Khan
by Hujat Ullah Khan , Accounting Manager , JAWA Human Resources Company

In budget making process1st budget you have to prepare is sales budget. It is the foundation of budget and then you have to prepare purchase budget, overhead budget, fixed asset budget etc..

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