a quantitative statement, for a defined period of time, which may include planned revenues, expenses, assets, liabilities, and cash flows. A budget provides a focus for an organization, as it aids the coordination of activities, allocation of resources, and direction of activity, and facilitates control. Planning is achieved by means of a fixed master budget, whereas control is generally exercised through the comparison of actual costs with a flexible budget.
the U. K. Government's annual spending plan, which is announced to the House of Commons by the Chancellor of the Exchequer. The Government is legally obliged to present economic forecasts twice a year, and since the 1997 general election the main Budget has been presented in the Spring while a Pre-Budget Report is given in the Autumn. This outlines government spending plans prior to the main Budget, and also reports on progress since the last Budget.
Wiktionary Definition for: Budget
of, or relating to a budget
appropriate to a restricted budget
Ex:''We flew on a '''budget''' airline.''
Amount of money or resources earmarked for a particular activity or time-frame.
Many people make an honest attempt to budget but become discouraged and give up before they're able to accomplish any significant financial gain. The top three causes of budget failure come into play before a person even begins to set up his or her budget. Awareness of these budget busters...
Creating and sticking to a budget isn't easy by all means. But it represents the best way by far to manage a person's finances so he or she can relax and worry about other things. A budget can also be a very useful tool for ending financial arguments - assuming...
Sit amongst a group of friends and associates and mention the word budget, and suddenly everyone has somewhere else they need to be. Usually no one wants to talk about budgets, no one wants to think about budgets, and no one wants to follow a budget. However, when looked at...
World-class companies are adding significant value to the budget process through linkage with their long-range strategic plan and by focusing on bottom-line performance. A key to success is obtaining management's buy-in. The budget process is a lot like the federal government nobody really owns all of it. At most companies,...
household budget is a household budget. You make it, you live by it. If you mess up, you have problems. A government budget is something else. The Administration puts it in (trying to look good, and frugal), and then Congress has its way with it, trying to make constituencies happy.
The 2001 BC Budget, expected before the end of March, will be the first budget that has gone through a public consultation process. In November of last year, the Select Standing Committee on Finance and Government Services toured the province to hear British Columbians' priorities for the budget.
What makes a good budget? In all the budget bloopers and blunders the author has seen, the same few problems keep rearing their ugly heads. To avoid them, this paper presents the top ten most important features of a successful budget. The first feature to consider is categories that fit...
This template helps you to plan your marketing budget. By filling in the planned amounts in each of the template cells, you can easily forecast what type of budget you need for marketing. The formulas also automatically update the totals for each section, as well as maintain a running total...
Simply put, a budget helps a person to track his or her income and keep his or her spending habits in check over a certain period of time, allowing the person to reach specific goals. There are many reasons why a family may want to implement a budget. These "Reasons"...
Budgeting. It's a word everyone is amiliar with. Everyone knows what a budget is, right? Yet how many actually make and stick to a solid monthly budget? The truth is that most people start out with the best of intentions, but an unexpected expense comes up and busts their budget....
Governments around the world have struggled to find the right method of controlling public spending and budget deficits. In recent years, the United States has evaluated policy changes using a ten-year budget window. The use of a multi-year window is intended to capture the future effects of policies, the notion...
A budget is a quantitative plan detailing out the methodology to be followed in resource acquisition, allocation, and utilization over a specified period of time. Budget helps in defining specific goals and objectives for the organization. To this effect, it lays out the strategy roadmap for the organization. The budget...
We examine the problem of optimally allocating a fixed budget to a finite number of different investment projects. The marginal productivity of capital in a project is first increasing then decreasing with the amount of capital invested in it. When the total budget is below some lower cutoff value, the...
Day-long, painful, annual budget meetings can be a thing of the past. Cast aside the 'set in stone' budget for a 'rolling forecast,' which allows you to change your budget as business needs evolve and new opportunities arise.
Developing and living by a household budget is by far the best way to get a person's expenses under control which, in turn, can mean a much less stressful life. However, many families find it very difficult to stick to a budget. It does take hard work and a lot...
A program-oriented budget framework is used in this article. A new Constitution, adopted in May 2003, has made some important choices concerning the public management system, including the balance of power between the executive and the legislature. Further choices are being made in an organic budget law under discussion. Compared...
Day-long, painful, annual budget meetings can be a thing of the past. Cast aside the ‘set in stone' budget for a ‘rolling forecast,' which allows you to change your budget as business needs evolve and new opportunities arise. by BNET staff
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