This is the second Newsletter Post…
The solution to all issues is impossible without the development of plans for achieving goals. In enterprises, planning is inextricably linked to financial resources. A budget is a document containing the planned indicators of the organization for the near future. Then, this brings all factors to a common denominator, which fosters the implementation of the qualified plan. The planning process is constant and present at all levels and branches of a company. However, when it comes to the creation of the annual financial plan based on in-depth analysis and reasonable propositions, the budgeting process takes place. In this regard, I consider it as an extension of the planning process.