Difference between budget & budgeting, Accounting Basics

Write the difference between budget & budgeting?

Ans) An estimation of the revenue & expenses over a specified future period of time. A budget can be made for a person, family, country, multinational organization or just about anything else that creates and spends money. A budget is a microeconomic concept that describes the tradeoff made when one good is exchanged for another.

Budgeting lies at the foundation of every financial plan. It doesn't matter if you're living paycheck to paycheck or earning six-figures a year, you require to know where your
money is leaving if you want to have a handle on your finances.. It really about understands how much money you have, where it goes, and then planning how to best assign those funds. Here's everything you require to help you create and maintain a budget

 

Posted Date: 3/30/2013 3:14:25 AM | Location : United States







Related Discussions:- Difference between budget & budgeting, Assignment Help, Ask Question on Difference between budget & budgeting, Get Answer, Expert's Help, Difference between budget & budgeting Discussions

Write discussion on Difference between budget & budgeting
Your posts are moderated
Related Questions
Q. Example of lower-of-cost-or-market method? A company may perhaps apply LCM to each inventory item such as Monopoly each inventory class (such as games) or total inventory. T

Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?

Cargin Company uses the FIFO method in its process costing system. The Assembly Department started the month with 15,000 units in its beginning work in process inventory that wer

On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period

Treatment of Provision for Taxation and Proposed Dividend: As preparing the Funds Flow Analysis, the treatment of condition for Taxation and planned Dividend is very significa

A) During the year, total liabilities enhanced $106,010 and stockholders' equity reduced $67,590. What is the amount of total assets at the end of the year? B)  If total assets e

Find the balance at the end of 6 years of $5000 investment in an account with a nominal annual rate of interest of 2.5% compounded quarterly over the first two years and then gro

Q. Learning objectives of current ratio? - Analyze the transactions by examining source documents. - Journalize the transactions in the journal. - Post the journal entrie

Explain about the Petty Cash Petty Cash It is a small amount of money which is kept in the office for making small expenditures. ($10, $25, $50, etc.) Business will conclude

Q. Prepaid expenses and deferred charges? Prepaid expenses, deferred charges -- assets already paid for, which are being used up or willexpire. Insurance paid for in advance is