Identify at least two ways you might implement knowledge of budget analysis in your current occupation...

Identify at least two ways you might implement knowledge of budget analysis in your current occupation or in a future career.

Expert Solution

Ans- Budget may be termed as plan of policy to be implemented in given time period.Budget can be expressed in quantitative term. While doing budget analysis all the activities of the firm or business is taken into consideration. Two ways I would like to implement my budget analysis knowledge in my current occupation as financial planner is-

1. While allocating functional budget, I would like to allocate cost for sales, production, marketing,administration, & capital expenditure.As we know these department needs money for smooth functioning of business in shortage of finance the overall business will impact.

2. With allocation of cost to functional department in same time I would keep flexible budget also to meet contingency situations such accidents, change of customer demands, change in goverment police's, new product launch which will not impact business function.

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