Budgets are the foundation for thriving businesses and a key tool for understanding performance. It is one of the best financial tools in a company’s toolbox— having this information in hand can help better identify points in a company’s profit and loss statements where it either performed really well or went completely off the rails. Especially as a company's financial situation will fluctuate over time.
Why do I need a B2A?
Budget-to-actuals can also help businesses plan, manage and forecast an influx of cash from a loan, grant, or series A. Moreover, proper accounting is likely a requirement for grants or investors.
Utilized correctly, a regular budget variance analysis can provide concrete steps to help a company save money, improve efficiencies, and contribute to business growth.
Don't dread this budget season - be prepared!
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