A budget is one of the most fundamental tools of business management, serving as a guide to improving your bottom line, controlling costs, introducing new product lines and more. Yet the idea of working with a budget is foreign to many executives, and seemingly too overwhelming and time-consuming for others.
To help our clients overcome these barriers to more effective management, Doeren Mayhew’s business advisors offer budgeting assistance. From simple expense-focused budgets to complex departmental and multiple-entity budgets, we work with you to create a budget based on your level of need.
- Serves as a planning and decision-making tool, allowing you to run scenarios to show the impact of purchases, hiring decisions, price changes and more
- Creates a framework for managing expenses
- Provides measurement tools and benchmarks
- Helps prepare for emergencies or revenue slowdowns
- Helps management think strategically
- Betters your understanding of expenses relative to revenue generation
- Enhances internal control when budget variances are investigated
- Provides projections to better manage long-term cash
- Alerts you to the need to adjust your plan based on differences in budgeted versus actual numbers
- Helps shift management responsibilities for expenses to departments