1 / 8

Budget

Budget. Definition of budget Budget is a formal plan that is stated in dollar terms and includes proposed income and expenditures. Characteristics of good budget 1- Outcome oriented. 2- Understandable and based on informational data based.

risaac
Download Presentation

Budget

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Budget

  2. Definition of budget Budget is a formal plan that is stated in dollar terms and includes proposed income and expenditures

  3. Characteristics of good budget 1- Outcome oriented. 2- Understandable and based on informational data based. 3- Flexible , prompt , contingency bases 4- Based on controllable factors 5- Fair and objective

  4. Types of budget 1- Operating budget 2- Capital expenditure budget 3- Cash budget

  5. Steps of budgeting process Gathering information and planning Evaluating Developing departmental budgets Developing cash budget Negotiating and revising

  6. Advantages of budget 1- Ensure the most effective use of financial and non _ financial resources. 2- Establish a frame of reference for managerial decisions. 3- Motivate employees by bringing them together to achieve common goals

  7. 4- Facilitate work coordination a cross the entire organization through communication by identifying who is responsible for what. 5- Identify potential trouble sports so corrective action can be taken. 6- Help employees learn from the experience. 7- Help organization in evaluating its progress.

  8. Thank you

More Related