Budgeting is how a business plans for future production cycles. An initial budget - known as a "static" budget - is a necessary planning tool; creating a second, flexible budget allows a business to ...

A good tool to ask the right questions. A company's planned budget at the beginning of the year will always end up being different from how the year actually plays out. It's just impossible to predict ...

Facilities that focus on manufacturing and production track two kinds of costs: fixed costs and variable costs. The variable costs are those that change when production levels change: raw materials, ...

Have you ever found yourself staring at rows and rows of budget and actual data, wondering how to make sense of it all? You’re not alone. Budget versus actual analysis is one of those tasks that feels ...

Nothing about starting your own company is easy. Thankfully, when it’s just you and your partner, it’s fairly simple to monitor your spending and keep your budget in check. You’ll reach a point though ...