The board of Sweet Traders Limited has requested that budgets for the company be tabled on $31$

October $2022$ for the $2023$ financial year ending $31$ December $2023.$ Sweet Traders is a leading

retailer with $165$ stores, specialising in baby clothing and accessories. The board expects realistic and

flexible budgets.

$3\mathrm{.}1$ You are the management accountant and have been asked to prepare a proposal outlining

the budgeting process you would implement. The proposal should be focused on a retail

company and have illustrative figures where applicable.