Budgets

Budgets

1. Budget: an agreed plan establishing in numerical or financial terms, the policy to be pursued and the anticipated outcomes of that policy

2. Provides Direction & Coordination, Motivates Staff, Improves Efficiency, and Assesses the Forecasting Abilities

3. In economics, a budget refers to the amount of money needed to meet a certain number of expenses necessary to undertake a project. In this way, it can be defined as an anticipated figure that estimates the cost of achieving the objective.

4. Budget is a quantitative expression of a plan for a defined period of tim

5. the budget is the delimitation in monetary terms of the conditions surrounding the chosen project and the results expected to be achieved after its realization within a given time frame.

6. Therefore, this quantitative expression in turn implies a high level of alignment with the business plan and strategies that mark the company's path.

7. Budget types

   • Operating budget: In this case, the budget is oriented to items related to the company's ordinary activity in terms of purchases and sales, normally in the short term.
   • Master budget: This is a budget that includes, if not all the company's departments, then almost all of them. It is created from other budgets, so its function is to create a global vision of the company from other more sectorial budgets.
   • BIBLIOGRAPHY: Jonathan Llamas (08 de enero, 2021). Tipos de presupuesto. Economipedia.com

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