1. You and your spouse run a small business together, with separate work roles. You are responsible for the business budgets and have researched an improved budget process which you felt needs to be adopted to support the continued growth of the business. How should your spouse be involved? What basic information should you communicate?
2. A large enterprise has just gained a major contract, which will generate additional income over a two year period, but will also require extra resources. At the same time, however, they are planning to expand into website sales. What type of budget/s would they need to prepare, and why? What methods could they use to fund the website expansion?
3. You are a sales manager for a large hospitality operation, and required to review and provide feedback via email on the budget document. What process would you follow, and what questions would you ask in order to provide valuable feedback?
4. Each industry has financial terminology unique to it. Do some research and identify and provide descriptions for terminology unique to your industry.