Budgets

Budget is an agreed plan in numerical or financial terms establishing the policy to be persuaded and the anticipated outcomes of that policy over agreed period of time. 

Income budget the agreedd, planned income of a business over a specific period of time

Expendtiure budget is the agreed, planned expenditure of a busness over a specific period tie

Profit budget - the agreed, planned profit of a business over a specific period of time

Setting budgets

• set clear objectives
• gather information
• construct a sales budget showing target revenue from each profit and region
• set budgets from maor cost…