CREATING AND USING BUDGETS

A budget is not just a report demanded by the bank. Instead, it is a tool for you to establish
objectives today, based on what was learned from the past, to secure financial success for the
future. Once management learns to rely on budgets and cash flow projections, they acquire a
focus that allows them to keep operations on track. Remember, it is the process that is
important; no one is expected to make a perfect forecast.