Believe in your business budget
Abstract: A budget represents the numerical battle lines in which a business fights to succeed in the coming year. To this end, it’s advantageous to do an early review of the budget now, while there’s still plenty of time to make sensible adjustments. The key is to keep the budget in mind as the year progresses and rework it as new information becomes available. This article explains how to do so and looks at the three primary components of a budget: the income statement, cash flow statement and balance sheet. A sidebar notes the importance of making sure the budget doesn’t ignore impending tax liability.