Budgeting and Forecasting

A budget is a financial plan for the upcoming period. A capital budget, on the other hand, involves an organization's proposed long-range major projects.

annual operating budgets include estimated revenues and appropriations for expenditure for a specific fiscal year. Capital budgets control the expenditures for construction projects and fixed asset acquisitions

Imputed costs do not appear in the historical cost accounting records for financial reporting. The actual cost incurred is recorder and is called a book cost.

Future cost versus past cost. Effective decision making analyzes only present and future outlay costs, or out-of-pocket costs. Optimal decisions result from using future costs, whereas financial reporting uses past costs.

A manufacturing organization's master budget includes a production budget, which uses the sales budget and inventory levels anticipated at the beginning and end of the period to determine how much to produce.

Standard costs are costs established through identifying an objective relationship between specified inputs and expected outputs.

Some budgeted costs are based on actual costs of the previous year, information from supervisors about where resources might be more efficiently used, and subjective judgments about how much should be allowed for resources.

A budget is a quantitative plan of operations that identifies the resources needed to fulfill the organization's goals and objectives. It includes both financial and nonfinancial aspects.

Activity-based budgeting is a technique that focuses on costs of activities or cost drivers necessary for production and sales. Such an approach facilitates continuous improvement.

A zero-based budget, on the other hand, is a budget that does not take anything for granted. It starts from point zero for each budgetary element and department each year and attempts to justify every dollar of expenditure.

Circular movement of cost refers to the flow of expenses within an organization that supports the production and delivery of goods or services. It involves the continuous cycle of incurring costs, generating revenue, and reinvesting profits back into the business. This movement highlights the interconnectedness of various cost elements, such as raw materials, labor, and overhead, and emphasizes the need for efficient resource management to optimize profitability. Ultimately, it illustrates how effective cost management can lead to sustainable business growth.

A water budget tracks the inflow, outflow, and storage of water in a specific area over time, focusing on the balance of precipitation, evaporation, and water usage. In contrast, a financial budget monitors income, expenses, and savings, aiming to allocate resources effectively to achieve financial goals. Both budgets are tools for managing resources and ensuring sustainability; they require careful planning and monitoring to maintain balance. However, while a water budget emphasizes environmental sustainability, a financial budget focuses on economic stability.

seeing as my monthly income is 15000,

i carry around about 1000 you never know what your gonna wanna buy

Unedeadknight: take at least half of that just in case some one mugs you or jumps you. it's better because you wan't lose that much. im 12 you don't have to listen to me. recomend!

Non-Budgetary control is laying control on your non-budgeted expenses i.e those expenses which are not defined in normal budgeted expenses. The techniques for these non-budgetary control are :

1) Statistical data analysis.

2) Break-even analysis or the no profit & no-loss analysis.

3)Gantt Charts

4) PERT (Programmed Evaluation & Review Technique).

the personal is for your self and family is a group

The last time i checked(which was 5 seconds ago) weather its in baseball or math class a strike is usually BAD :D, but they can also be good accounting the fact that some people can be badly treated in a workplace or any other place, and need a way to fight for good treatment and sometimes higher wages. It depends on the situation, but if it is abused it can impact a whole company, so the company can just hire more people (scabs) to take there place.

USD$160 million

it was supposed to come out Christmas 2010 but it didn't so its probably going to come out early 2011

It's modifying your budget in line with your necessary costs and incoming revenue. It's best to check and tweek your budget on an annual basis.

Operating Activities ;)

There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.

It is preferable ...

Cash budget determines how much cash is needed at what stage and plan the availability of cash in case of shortage and investment in case of excess cash.

its called a ledger