Introduction to budget A budget is a financial plan for business‚ prepared in advance. It is defined by cima as ‘a plan expressed in money’. Cash flow forecasting is the process of estimating cash inflows and cash outflows over a period of time‚ usually for a period of 1 year. Cash Budget is the process of estimating cash inflows and cash outflows over a period of time‚ usually prepared monthly. Cash flows is the amount of money flowing into and out of a business over a period of time. Cash inflows
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History of Indian Budget India’s first Finance Minister Sir R.K. Shanmugham Chetty‚ presented the first Finance Budget of independent India on November 26‚ 1947. Since then‚ 28 differentUnion Finance Ministers have been presenting the budget year after year. Initially‚ major attention was paid towards the agriculture sector but as the economy evolved‚ the focus shifted from agriculture to other sectors like industrial‚ financial etc. During the early the fifties‚ Indian budget highlights revolved
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1. Budgeting - An Introduction A budget is a plan that outlines an organizations financial or operational goals. It is an action plan. It helps a business allocate resources‚ evaluate performance‚ and formulate plans. Understanding the importance of budgeting is the first step in successful financial planning. This tutorial introduces budgeting and the 5 most commonly used methods of budgeting 2. Preparing & Controlling a Budget Budgeting is potentially a managers most valuable planning and
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What is a budget? A budget is a forecast of revenue‚ expenditure and profit. Most budgets are revised annually. What does it achieve? There are two (often overlapping) reasons for producing a budget. One is to persuade potential investors that your company is a good bet. The other one is to plan your business finances – how much money do you have and how do you plan to use it? How much revenue do you need to generate to achieve your target profit? Is your business plan viable or does it need adjusting
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The budget speech for 2013/2014 was given by Finance Minister Pravin Gordhan at the National Assembly in parliament‚ Cape Town on the 27 February 2013. Priorities Infrastructure – the government will over the next 3 years invest R827 billion into building new and upgrading existing infrastructure. Spending plans over the next 3 years include: * R5.2bn is to the local government equitable share * R4.2bn to the provincial government share * R3.2bn to the Passenger Rail Agency of SA
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Budget is something that every citizen of India looks forward to. It determines how the finances are going to be managed for the coming year. The Union Budget 2013-2014 is perhaps the most budget of post reform India. This budget‚ as always has been welcome by some‚ while for the others it is a total unsatisfactory one. The Finance Minister‚ Mr. Chidambaram has tried to cut down the expenses and has tried to increase the fiscal by next year end. Listed below are the highlights of the Union
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Introduction of cash budgeting Cash budget is a inputs and outputs of a business or a individual over a long period of time (e-conomic‚ 2013). A cash budgeting is relate to a organisation’s plan to plan ahead and to plan ahead of the future in a company. It usually expressed it as numbers of cash budgeting. The main objective of preparing cash budget is to ensure that the cash is sufficient for the purpose of capital or revenues expenditure. It is also to have cash in advanced in the case of shortage
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GUESS WHO JEANS STATIC BUDGET VARIANCE FOR THE MONTH JUST ENDED Income Statement line-item Budgeted amount per unit Static Budget (A) 10‚000 units Actual Results (B) 16‚000 units Static Budget Variance (A) – (B) Revenue Variable costs: Materials Labor Overhead Total Contribution margin Fixed costs: Manufacturing Overhead Marketing costs Total fixed costs Operating
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1 Budget 2013-2014 Speech of P. Chidambaram Minister of Finance February 28‚ 2013 Madam Speaker‚ I rise to present the Budget for the year 2013-14. 2. I recall my last tenure as Finance Minister and acknowledge with gratitude the splendid support that I received from all sections of the House as well as the people of India. Today‚ more than ever‚ I seek the same support as we navigate the Indian economy through a crisis that has enveloped the whole world and spared none. 3. I
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A balanced budget will lead to a stronger economy and more jobs. Our government should try to maintain the value of dollar in the market. If the value of dollar appreciates‚ people will trust US market. This will motivate companies to invest and put more money into growth it will be longer lasting. More jobs will be created. If the value of dollar depreciates then it will lead to unemployment. People will not be able to pay for gas and food and the price will inflate more. Now the goal of our govt
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