What is Budgeting?
You'll certainly be familiar with " The Budget”
As the chancellor in the Exchequer traces his plans for the Nigerian Economic system to his student relative He will indicate
** the spending plans from the
** how and where the us government will raise revenue
This is no not the same as any other finances drawn up with a business. However of all… what is a budget?
A budget is a declaration of the budget that a organization hope to obtain.. This means it is just a plan, NOT a forcast.
What is spending budget?
Budgeting refers to a course of action based upon an estimate of assumed income and bills. In layman terms, it can be simply is a term is identified as a plan of operation exactly where one opinions their cash flow and expenditures, often inside the effort to make a strategy in order to achieve several financial objective or goals within a certain period of time. Only some budgets are set up or organized with the same methods. There are many types of budgeting. Personal budgeting is quite different from the budgeting performed by a corporation. There are personal budgets and business financial constraints
There are two common types of cash strategy for non-public households. in one instance, the planner provides an impressive budget via Envelop technique. Whit this process, the advisor will individual the necessary money into several envelopes every month Business Costs
Capital spending budget
Cash cost management
NAME: ADETUWO AYOMIKUN
TRAINING COURSE: ACC 303 (MANAGEMENT ACCOUNTING)
MATRIC NO: 010/855
TOPIC: CASH STRATEGY, TYPES AND PROCEDURES
three hundred LEVEL
CALEB UNIVERSITY IMOTA LAGOS
Disadvantages of environment budgets
** Inaccurate and unrealistic finances will be ignored
** it might restrict business activity, which may lose the firm business ** if perhaps budgets will be imposed upon there is no profit for them to check out the targets