A full-fledged company will need a fixed budget across all departments in order to maintain its operations. By preparing a yearly budget, you will be able to map out your company’s expenses. With our service, we will give you a comprehensive budgeting plan in order to help your company.
In this phase, we will review your company’s profit and loss from the last two years. This will allow us to make adjustments and modifications in accordance with the margins, investments, market conditions, and revenues that are projected to be earned within the year.
In this phase, we will assess your company’s entire expenses. Starting from fixed costs like insurance, rent, lease, or other services periodically used by the company. It is also recommended to look at recruitment and other areas that require the company to make expenses.
In this phase, we will assess your company’s capital expenditures like new computers, machinery, furniture and other items. These are very important to be included in the budget because they are facilities that help your company’s operations.
In this phase, we will plan out your company’s entire cash flow. We will see how much the revenues are and how they will be circulated to fund operations within the company. By planning how much your company will earn, we can advise how much you can spend.
Ultimately, the purpose of yearly budgeting is to create a master plan that will be used as guidance to map out your budgeting for the year. It will then be divided again to your monthly budget so that your company will have a clear idea on how much you can spend in a month.
Yearly Budget Preparation can be a tricky process to conduct. Double M strives to help our clients throughout the whole process. Should you have any inquiries, please contact us.