Finance
Estimated Budgets
The sound planning is considered a tool that helps achieving the main and sub-objectives at the level of accounts, cost centers and projects, and achieving balance between the objectives and available potentials. The planning budgets are deemed the most appropriate tool that helps the management to achieve the expenditure rationalization and promote production efficiency.
The Advantages:
- Control for providing an integrated system of performance evaluation, comparing to the actual results set forth in the budget.
- Provide the necessary means of measurement and control, and provide the main information required for making decisions.
- Predictability of issues and obstacles, prior to occurring to overcome the same, in the light of defined objectives.
- Automatic actual comparisons between the estimated and actual values, and shedding light on any deviations.
- Automatic actual comparisons between the estimated and actual values, besides warn and prevent expenditure on projects to avoid losses prior to occurring.
- Prepare balances of budget accounts, and compare them to the actual balances.
- Prepare budgets of balances of the cost centers, and compare them to the actual balances.
- Create many estimated budgets, as per the entity need.
- Compare the estimated to actual values of financial statements, and show the deviation