Implementation of Budget

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on February 27, 2023

The implementation of a budget is the responsibility of the budget director. The success of the entire exercise of budgeting depends on two important factors.

First, proper and clear communication to all key people involved in the implementation of the budget.

These stakeholders should have a clear understanding of what is expected of them and how to achieve the goals.

Second, cooperation and encouragement from the top management in achieving the budget targets.

The company's leading managers and executives should be willing to reward people who meet budget goals.

Ideally, top management and staff working at the lower levels of management should collaborate to prepare and implement the budget successfully.


Shown below are the budgeted statements of cash receipts and cash disbursements for the XYZ Company for the year ended 30 June 20x1.

Budgeted Statements of Cash Receipts and Cash Disbursements

Implementation of Budget FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.