Budgeting is a process of formulating a plan for an organization or unit to determine the spending pattern and to identify and recognize its related revenue generation. Budgeting is allocating the estimated funds to various heads or activities to be carried out in future as per the policies of the companies. Copy the link given below and paste it in new browser window to get more information on Budgeting:- http://www.transtutors.com/homework-help/accounting/budgeting.aspx

1. BUDGETING

2. Nature of Budget
• Master
• Operating
• Financial
Based on
Function
• Long term
• Short term
• Current budget
Based on
Time
• Fixed
• Flexible
Based on
Flexibility

3. Types of budget
Operating Budget
Financial Budget
Sales Budgets
Personnel Budget
Performance Budget
Forecast Budget
Overheads Budget

4. Importance of Budgeting

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