What Is a Budget in a Business?

Answer

A budget in business is a calculation of costs, expenses and revenues that will be generated by a particular project. A budget is usually created to determine how much money will be required to finance a project and is done before the money for the project is received. In most business budgets are usually calculated annually and although the final budget is compiled by the finance department, all departments are required to prepare departmental budgets.
1 Additional Answer
A business budget is a list of all planned expenses and revenues. It is a plan for saving and spending and enables a business to know if it's making profits or losses. It identifies all income sources and expenses are planned with the intent of matching outflows to inflows.
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