Answer to Question #54486 in Finance for dong phuong thanh nhi
Explain to Voyager executives the importance of considering related expenses and discuss some of their controls as planning for its aggressive revenue expansion policy.
Voyager executives should understand the importance of considering related expenses.
The expenses forecast is an estimate of your ongoing operating expenses (overheads, outgoings, fixed costs) for the year. It answers the question of how much it will cost to run your business. The selling price of your products or services must include an amount to recover these expenses.
The executives should use the accounting records for expenses from previous years as a guide and make adjustments to reflect increases in price or changes to your business strategy. For example, you might be planning for growth in the next year so include additional costs for extra employees or more plant and equipment.
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