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Budgeting for Businesses

A budget is a plan expressed in dollar amounts that acts as a road map to carry out an organization's objectives, strategies and assumptions.  

The budgeting process typically begins with a strategy planning session with TIG and your business. We then apply the agreed strategic direction to a series of plans that roll up into a master budget. The plans include a sales budget, production budget, direct materials budget, direct labor budget, manufacturing overhead budget, sales and administrative budget, and fixed assets budget. All of these plans roll up into the master budget, which contains a budgeted income statement, balance sheet, and cash forecast. There may also be a financing budget in which is itemized the debt and equity structure needed to ensure that the cash requirements of the budget can be met.

Contact Us!

TIG Tax Service

Phone: 682-492-0012

Email: tigtax@tigtaxservice.com

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