![]() If there are major deviations from the budget plan, you should find out whether there have been significant changes within or outside your company that you could not foresee in your forecast. Do you still have money left over or have you already exceeded your budget? Are the targets you set still achievable or have they already been achieved? 2. Towards the end of the current financial year, evaluate your company's performance based on the last budget plan and compare your forecast at that time with the actual figures. The following tips assume that an initial budget plan already exists or that a comparison of budgets and expenses/costs from previous years is possible. Regardless of which approach you choose, there are a few points to bear in mind when creating budget plans. Top-down, bottom-up or both? 7 tips for the perfect budget plan Finally, the management level must review and approve the budget plan. The department/project managers then develop sub-goals, measures and concretize the budget planning.
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