To you who have been waiting for “budgeting process guide”, now I am coming with a comprehensive guiding on how to construct a budget for businesses purposes, with a single case example (for easier understanding). But before that, let’s talk about the main resources of every types of budget be called “Master Budget”. A comprehensive master budget is a formal statement of management’s expectation regarding sales, expenses, volume, and other financial transactions for the coming period. It consists basically of [...]