BUDGET

Budgeting is the process of designing, implementing and operating budgets. It is the managerial process of budget planning and preparation, budgetary control and the related procedures. Budgeting is the highest level of accounting in terms of future which indicates a definite course of action and not merely reporting. It is an integral part of such managerial policies as long-range planning, cash flow, capital expenditure and project management.It is an integral part of such managerial policies as long-range planning, cash flow, capital expenditure and project management.

Budgeting

Budget Types in Management Accounting

Master budget definition

Preparing a Master Budget

The Advantages and Disadvantages of a Master Budget