Why is Budgeting Important?
Budgeting is the projection of income and expenditures that one expects an organization to earn and incur over a given period of time, usually… Read Article
Budgets
Fixed Budget – Meaning, Benefits, Drawbacks, and More
As the name suggests, a fixed budget remains fixed even when there is a change in the business activity. Or, we can say it… Read Article
Direct Labor Budget –Meaning, Benefits, Calculation, and More
As the word suggests, the Direct Labor Budget relates to the cost of direct labor involved in production/assembly or service. Specifically, this budget shows… Read Article
Direct Materials Budget: Meaning, Components, Format, Advantages, and Variance Analysis
Direct Materials Budget: MeaningA budget that shows how much quantity of direct raw material is required according to the production target level for a… Read Article
Comprehensive Budget
What is a Comprehensive Budget?A comprehensive budget consists of all the recurring income and expenditure and non-recurring expenditure. It does not include non-recurring income… Read Article
Sales Budget
What is a Sales Budget?The sales budget, a type of operating budget, is a forecast of the expected units a company intends to sell… Read Article
Cash Budget
What is a Cash Budget?A Cash budget represents the expected future cash flow of an organization over a defined period of time. It is… Read Article
Production Budget
What is the Production Budget?A budget is a financial plan for a defined period, whether monthly, quarterly or annually. It estimates a wide variety… Read Article
Budgeted Balance Sheet – Importance, Steps, Adjustments and More
A budgeted Balance Sheet is similar to a regular balance sheet and has the same line items as well. The only difference between the… Read Article
Static Budget – Meaning, Importance, Benefits and More
A static budget or fixed budget is a type of budget where the value does not change despite changes in the sales volume. The… Read Article
Budget Example – Sales, Incremental, Production and More
The budget is a statement that includes estimates of income and expenses for a future period. Or, we can also say it is a… Read Article