You have been asked to prepare the annual budget for a small business. The CEO has been helpful and shown you around. They have been responsible for the previous periods budgets. You have been introduced to the three departmental managers of marketing, production and logistics. The marketing manager has given you a sales forecast that they are confident with.

1. Describe who else you will talk to in order to set the sales assumption forecast. How will you document this? How is the sales budget used to build the other budgets? (100120 words)

2. What five steps does Shim propose for building the master budget?

3. Who is responsible and what standards for negotiations should be set during budget meetings with the managers and CEO? (120150 words)

4. In what circumstances do NFPs compete for funding and what can influence the outcome of funding applications? (5080 words)

please answer a,b,c