Budget periods:
Budgets may be created yearly, semiannually and quarterly. Some firms prefer annual budgets to reduce the amount of paper work and time involved. Others make shorter budgets to make it more accurate and specifically designed for each selling season.
Budgetary procedures
There are two basic planning styles for making a budget.
Top down:-
Top management sets objectives and drafts the plans for all organisational units.
Bottom up:
Different organisational units or departments prepare their own tentative
objective and plans. These are forwarded to the top management for consideration. The sales budgeting procedure differ from company to company with most differences tracing back to differences in basic planning styles.
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