![]() Separately mention how much share of the budget is spent on your needs and for what purpose. ![]() There are several methods and tools available for creating, using and adjusting a personal budget.Īsk your parents how they prepare the monthly budget of your family, or else you prepare a budget for your family. Past spending and personal debt are considered when creating a personal budget. Expenditure budget: A budget type which includes all spending data items.Ī personal budget is a finance plan that allocates future personal income towards expenses, savings and debt repayment.Revenue budget: It consists of receipts of government and the expenditures on these it usually consists of taxes and other duties that the government levies.The project budget is often broken down into specific tasks and budgets are assigned to each task. These costs include labour, material and other relative expenses. Project budget: the project budget is a prediction of the costs associated with a particular company project.Marketing budget: the marketing budget is an estimate of funds needed for promotion, advertising and public relations in order to market the product or service.It helps a company determine if the income will be enough to cover expenses or the company will need financing. Cash flow budget: The cash flow budget is a prediction of future cash receipts and expenditures during a particular time period, usually in the short term future.The production budget also estimates the various costs involved with manufacturing those units, including about and material. ![]() Production budget: Product oriented companies create a production budget which estimates the number of units that must be manufactured to meet the sales goals.It is used to create company sales goals. Sales budget: Estimate of future sales, often broken down into both units and dollars.In summary, the purpose of a budget is to “provide a forecast of revenues and expenditures that construct a model of how our business might perform financially if certain strategies, events and plans are carried out. Want a helping hand so that you can focus on the more important tasks?.Want us to review, proofread or tidy up your work?.Looking for any kind of help on your academic work (essay, assignment, project)?.
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