Finance- Using budgets

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  • Created by: iftey
  • Created on: 05-05-10 16:49

Using budgets

a budget is an agreed plan established in financial terms the policy to be pursued and the anticipated outcomes of that policy. budgets are usually stated in terms of financial targets, relating to the money alloctated to support the organisation of paticular functions, they also include targets for revenue and output or sales volume.

Main types of budgets

income budget-

this shows the agreed and planned income of a business over a period of time also known as sales budget.

expenditure budget-

this shows the agreed, planned expenditure of a business over a period of time

profit budget-

this shows the agreed, planned profit of a business over a period of time.




This revision note briefly describes the types of budget and the benefits and drawbacks of using them.


College students should understand about budgeting resources what resources to utilize while in college really important. Consider these 15 steps. 

Take control of your money

Open a credit union account

Safeguard your data

Pursue all Financial Aid

Understand student loans

Monitor your credit card use

Establish good credit practices

Turn your skills into profit

Choose a meal plan you will use

Buy snacks from the grocer

Seek help if debt grows

Use student discounts

Resist peer pressure

Identify needs and wants

Use alternative modes of transportation

Use campus amenities

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