Budgeting

Budgeting

Introduction

Budget can be described as a plan in terms of quantitative expressions for a specified period of time. Budget includes standard sales volumes, revenues, the quantity of resources, expenditures, costs, assets, cash flows and liabilities. It is an expression of strategic plans for business units, activities or organizations in terms that can be measured. A company's budget is sometimes described as the corporate budget which is prepared annually. It is a plan for future in short term. It lists the expected revenues and expenses of hundreds or thousands of people of various departments within a company, such as human resources, operations, ...