Question

In: Accounting

What is a budget Prepare examples of Revenue, production, direct materials, labor budget What is a...

  • What is a budget
  • Prepare examples of Revenue, production, direct materials, labor budget
  • What is a cash budget
  • Why are budgets important for organizations

Solutions

Expert Solution

A budget is plan for you money,a budget can be said to a formal statement of estimated income and expenditure based on future plans and objective.in other words we can say that budget is a documents that managment of an oragnisation makes to estimate the revenues and expenses for an upcoming period/year based on thier goals and aims for the orgnisation..

example of different budget attached in image

Cash Budget- A large profit does not in itself make for a healthy business.Liquidity is just as important.The cash budget is an attempt by management to ensure that company doesn't run out of liquidity problems in future.It involves esitmating receipts and payment implied by the other budget.

Important of Budget

-it enables the business owner to concnetrate on cash flow.

-Improving profit and increasing return on invesment

-helps in both planning and controling the finances of the business

ekkarill92 answered 1 year ago
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