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The Directors and
Managers receive the prior year Financial Statements.
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The Directors and Managers use the prior year Actual Figures to budget for
the next year.
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When the Directors and the
Managers have completed their Budgets a meeting
held
to discuss the Budgets.
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The Financial
Manager combines and transfers all the budgets onto the
excel spreadsheet.
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The Financial Manager then sends a copy of
each department’s budget to the
respective Directors and
Managers.
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The Directors and the Managers use the budgets to measure and control the
Performances of their own departments.
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