budgeting

Best Essays
Topics: Budgets, Budget
Topic Gateway Series

Budgeting

Budgeting
Topic Gateway Series No. 27

1
Prepared by Louise Ross and Technical Information Service

Revised March 2008

Topic Gateway Series

Budgeting

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Topic Gateway Series

Budgeting

Budgeting
Definition and concept
A budget is:
'A quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows.'
CIMA Official Terminology, 2005
Budgeting practices are heavily influenced by the organisation's management style and can vary considerably, but the theory is

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