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Hi Tutor,
In case if we are told to prepare a rolling budget like in Q 308 STATIC CO (DECEMBER 2016) in Kaplan 2023-24 kit
They have giving the actual figures for q1 ,and there 4qs ,so now will delete the first quarter and prepare the following 4 quarters,
The point is we have to base our following 4 q on the actual production
I mean since we have the actuals for the q1 we should base the budget on the actuals is that right?
Can you clarify please,
Thanks
Yes, you do – the budget will be updated more frequently than annually – either quarterly or even monthly – and a new budget period will be added to replace the expired period.
Using this approach, the budget will always extend one year into the future and will be continuously updated based on what you have learned from the actual quarter or month.
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