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A budget is a financial plan for a fixed period, often a year. It may also include anticipated sales volumes and profits, resource quantities, costs and expenditures, assets, liabilities, and cash flows, among other things. It is used by businesses, governments, families, and other organizations to communicate strategic plans for activities or events in quantifiable terms. A budget is a total amount of finances set aside for a specific purpose, as well as a list of anticipated expenses and suggestions for how to meet them. A budget surplus, which provides money for future use, or a deficit, in which expenses exceed income, are examples.
A company's budget is generally prepared annually, but it may not be a finished budget. It is a plan for the short-term future that typically allows hundreds or even thousands of people in different departments (operations, human resources, IT, and so on) to list their expected revenues and expenditures in the final budget. If the actual figures delivered during the budget period are close to the budget, that means the managers have a good understanding of their business and have been able to steer it in the right direction. On the other hand, if the figures wildly differ from the budget, it sends an ‘out of control’ signal, and the stock price may suffer. In any campaign, campaign planners face two types of expenses: the first is the cost of human resources required to plan and implement the campaign. The hard cost of the campaign is the second type of expense that campaign planners face.
Browse through a collection of sample printable Small Business Budget Templates that have been designed just for you.