Module 2: Overview: BUSINESS 114: Accounting for Decision Making
Budgeting is an important task for everyone in both our personal and professional lives. It is a formal part of the ongoing planning procedure and improves the planning, operating and evaluating process. In this module, we will see and prepare different types of budgets and how entities can use them to help with decision-making. "How do I manage money?" Before you can start trading in your business, you need to determine how much money you need. A budget can assist with this as you can work out how much cash you have based on the estimated number of units you wish to sell and whether this income will cover your expenses. This module will provide you with the skills necessary to draw up a basic budget and to interpret the results in order to make a decision about your cash flow situation. Upon successful completion of this module, you will be able to: To help you plan your week, here is a summary of the tasks for this module: This week we will cover a number of resources and recordings
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