A budget is a forecast of income and expenses over a specified future period. Businesses, governments, and households use budgets that are essential to the efficient running of a business (or household). Business budgeting not only serves as a manager's action plan, it also serves as a point of comparison at the end of the period.
A company's budgeting process can be difficult, especially when customers don't pay on time or when sales are sporadic. There are different types of budgets that businesses use, including operational budgets, overall budgets, and static and flexible budgets. This article examines how companies approach budgeting and how companies deal with underfunded budgets.
The budgeting process for a business can be complicated, but a budget essentially compares a company's income and expenses over a specific period of time.
Learn more about budgets at
https://brainly.com/question/6663636
#SPJ4
