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Summary > Summary - Pg. 69

PlAnnInG AnD bUDGETInG 69 capital constraints. There are many ways of doing this, such as finding a joint venture partner, selling and leasing back property, improving debt collection, using invoice finance and many more. Some of these options may reduce the return on a project. Summary In this chapter we have discussed how budgets are initiated and support the planning process and how the budget cycle works. We have explained the major types of departmental budget and how they are monitored and controlled, together with variance analysis. An explanation of the differences between operating expenditure budgets and capital budgets has been provided as well as the elements of capital rationing. You should now understand: the integration of budgets with plans; types of departmental operating budgets;