Brother (answers Hello phone): Jake: It's me, your brother Jake, how are you doing? Brother: Nice to hear from you. How are things up north? I hear you're selling tamarind balls. Jake: That is the reason why I called you. All those years we sent you to school, I hope you can help me now with this tamarind ball business. I am not feeling comfortable with all the costs and I am not sure how this thing will play out. Brother: Man! You need to do a budget. Jake: Budget! That is like what the Prime Minister reads in the Parliament every year? Brother: Well it is the same concept. What the Prime Minister does is give his costs and revenue for the upcoming financial year. You would look at three months, six months or the next year and what costs you would incur with those sales levels. Jake: Why do I need to do a budget? Brother: I will send you an email giving you all the virtues of budgeting but you should remember Dad saying, Before you start, know how you finishing", and budgeting would help you to do that. Jake: But I don't know how to do a budget and it's sounding like "real" work Brother: It could be, but I am doing a course in this area and if you send me the figures I can help you prepare the budget. Jake: I would be happy to. You just need to let me know which figures you need. Now I am feeling that this could turn out to be a "sweet" business. Brother: It sure could be. Reflect on the following:- 1. What are some of the advantages of budgeting? 2. What figures would Jake need to get for his brother to prepare the budgets? 3. Do you feel that having a budget would help Jake to see the whole picture