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What are the processes of producing budgets?
The process of producing budgets:
• A budget manual is formed to provide instructions, delegate responsibilities, reporting lines and communicate the timetabling and deadlines for submission of the various budgets.
• A budget committee may be prepared to coordinate and administrate the process of making the various budgets. Budget committees assist centrally control the process of budgets being created, they will communicate along with other departments to coordinate and consolidate the production of various budgets to be prepared.
• A budget officer or accountant will frequently be appointed to help the budget committee.
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