Explain steps followed to calculate Gross margin budget, partial budget, complete budget,and cash flow budget in a financial year with references?

1. Gross margin budget:
- Calculate the total revenue by multiplying the expected sales volume by the selling price.
- Calculate the total variable costs by multiplying the expected sales volume by the variable cost per unit.
- Subtract the total variable costs from the total revenue to get the gross margin.

2. Partial budget:
- Identify the specific changes or decisions that will impact the financial performance of the business.
- Estimate the costs and benefits associated with these changes.
- Calculate the net impact on the business's financial performance by subtracting the costs from the benefits.

3. Complete budget:
- Start by creating a sales budget, which outlines the expected sales volume and selling price for each product or service.
- Create a production budget, which outlines the expected production volume and costs for each product or service.
- Develop an operating budget, which includes all operating expenses such as marketing, administrative, and overhead costs.
- Combine all the budgets to create a comprehensive financial plan for the business.

4. Cash flow budget:
- Start by estimating the cash inflows, which include revenue from sales, investments, and loans.
- Estimate the cash outflows, which include expenses such as operating costs, loan repayments, and taxes.
- Calculate the net cash flow by subtracting the cash outflows from the cash inflows.
- Monitor and adjust the cash flow budget regularly to ensure the business has enough cash to meet its financial obligations.

References:
- "Financial Management: Theory & Practice" by Eugene F. Brigham and Michael C. Ehrhardt
- "Managerial Accounting: Tools for Business Decision Making" by Jerry J. Weygandt, Paul D. Kimmel, and Donald E. Kieso.