This manual provides guidance for the annual budgeting process of a company and it’s Strategic Business Units. The overall benefits of the budgeting Manual include the following:
- Clearly defines and assigns responsibilities at the Corporate, and Strategic Business Unit .
- Focuses Management to plan for the most economical use of manpower, investment funds, loans and capital.
- Establishes the habit of timely and adequate communication at all levels of management before making important decisions.
- Forces a periodic evaluation of the SBU/ Head Office Department’s activities and provides feedback to take corrective action.
- Clearly assigns responsibility to the appropriate managers thereby providing clear standards for measuring their performance.