AskDefine | Define budgeting

User Contributed Dictionary

English

Verb

budgeting
  1. present participle of budget

Extensive Definition

Budget (from french bougette, purse) generally refers to a list of all planned expenses and revenues. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms.
In summary, the purpose of budgeting is to:
  1. Provide a forecast of revenues and expenditures i.e. construct a model of how our business might perform financially speaking if certain strategies, events and plans are carried out.
  2. Enable the actual financial operation of the business to be measured against the forecast.

Business Start-up Budget

Description of the expected financial results of your business activities. Initial process of calculating your small business start-up costs list everything you will need to purchase including both tangible assets (for example, equipment, inventory) and services (for example, remodeling, insurance), working capital, sources and collateral. The budget should contain a narrative explaining how you decided on the amount you are putting into this reserve.

Corporate budget

The budget of a company is compiled annually. A finished budget usually requires considerable effort and can be seen as a financial plan for the new financial year. While traditionally the Finance department compiles the company's budget, modern software allows hundreds or even thousands of people in the various departments (operations, human resources, IT etc) to contribute their expected revenues and expenses to the final budget.
If the actual numbers delivered through the financial year turn out to be close to the budget, this will demonstrate that the company understands their business and has been successfully driving it in the direction they had planned. On the other hand, if the actuals diverge wildly from the budget, this sends out an 'out of control' signal and the share price could suffer as a result.

Event Management Budget

A budget and planning tool to assist in calculating and meeting the costs associated with a business or social event. It is a fundamental tool that enable the event director to predict with reasonable accuracy whether the event will result in a profit, a loss or will break-even.

Government budget

details Government budget The budget of a government is a summary or plan of the intended revenues and expenditures of that government. In the United States, the federal budget is prepared by the Office of Management and Budget, and submitted to Congress for consideration. Invariably, Congress makes many and substantial changes. Nearly all American states are required to have balanced budgets, but the federal government is allowed to run deficits.
In the UK the budget is prepared by the Chancellor of the Exchequer, the second most important member of the government, and must be passed by Parliament. Parliament seldom makes changes to the budget.

Personal or family budget

details Personal budget In a personal or family budget all sources of income (inflows) are identified and expenses (outflows) are planned with the intent of matching outflows to inflows (making ends meet.) In consumer theory, the equation restricting an individual or household to spend no more than its total resources is often called the budget constraint.

References

budgeting in Afrikaans: Begroting
budgeting in Asturian: Presupuestu
budgeting in Bosnian: Budžet
budgeting in Bulgarian: Бюджет
budgeting in Danish: Budget
budgeting in German: Budget
budgeting in Estonian: Eelarve
budgeting in Spanish: Presupuesto
budgeting in Esperanto: Buĝeto
budgeting in French: Budget
budgeting in Galician: Orzamento
budgeting in Hindi: बजट
budgeting in Croatian: Proračun (ekonomija)
budgeting in Italian: Budget
budgeting in Hebrew: תקציב
budgeting in Georgian: ბიუჯეტი
budgeting in Latvian: Budžets
budgeting in Lithuanian: Biudžetas
budgeting in Dutch: Begroting
budgeting in Japanese: 予算
budgeting in Norwegian: Budsjett
budgeting in Polish: Budżet
budgeting in Portuguese: Orçamento
budgeting in Romanian: Buget
budgeting in Russian: Бюджет
budgeting in Simple English: Budget
budgeting in Serbian: Буџет
budgeting in Serbo-Croatian: Budžet
budgeting in Finnish: Budjetti
budgeting in Swedish: Budget
budgeting in Ukrainian: Бюджет
budgeting in Chinese: 財政預算案
Privacy Policy, About Us, Terms and Conditions, Contact Us
Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2
Material from Wikipedia, Wiktionary, Dict
Valid HTML 4.01 Strict, Valid CSS Level 2.1