It is the formulation of plans for a given future period in numerical terms.
They are statements of anticipated results, either in financial or non-financial terms.
Following are the types of budgeting:
- Revenue & Expense
- Time, Space, Material, & Product
- Capital Expenditure
- Cash
If budgetary controls are too detailed, then it can become cumbersome, meaningless, & unduly expensive
Zero-base budgeting is also a type of budget. It is calculating cost afresh for each budget period. It is generally applied in support area.
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