Sales Budget
sales budget - A budget that details anticipated sales levels
2 min read
financial planning
Financial Planning
Sg&a Budget
SG&A budget - A budget that details anticipated selling, general, and administrative costs
2 min read
cost accounting
financial planning
Static Budget
static budget - A budget that does not anticipate alternative outcomes; estimated sales and expenses are fixed and establish the relevant benchmarks
2 min read
financial planning
Top-down Mandated Budget
top-down mandated budget - A budget approach where upper level management establishes parameters under which the budget is to be prepared
2 min read
financial planning
Zero-based Budgeting
zero-based budgeting - A budget approach where each expenditure item must be justified for each new budget period
2 min read
financial planning
Master Budget
master budget - Also known as the comprehensive budget; an integrated set of articulated budgets relating to numerous operational subcomponents (labor, mater...
2 min read
cost accounting
financial planning
Pro Forma Financial Statements
pro forma financial statements - "As if" budgeted financial statements
2 min read
financial reporting
financial planning
Production Budget
production budget - A budget that details planned levels of production; takes into account sales and inventory build/decline
2 min read
cost accounting
financial planning
Direct Labor Budget
direct labor budget - A budget that details expected direct labor needs, along with the related costs of labor
2 min read
cost accounting
financial planning
Direct Material Purchases Budget
direct material purchases budget - A budget that details expected direct material purchases, along with the related cash payments
2 min read
financial planning
Discretionary Fixed Cost
discretionary fixed cost - Fixed cost resulting from yearly spending decisions; proper planning can result in avoidance of these costs as necessary (e.g., ad...
2 min read
cost accounting
financial planning
Encumbrance
encumbrance - A budgetary restriction occurring in advance of a related expenditure
2 min read
financial planning
Factory Overhead Budget
factory overhead budget - A budget that details the anticipated factory overhead, including calculations related to the allocation of such amounts
2 min read
cost accounting
financial planning
Fixed Overhead Spending Variance
fixed overhead spending variance - A fixed overhead variance that compares actual fixed overhead to the budgeted fixed overhead
2 min read
cost accounting
financial planning
Fixed Overhead Volume Variance
fixed overhead volume variance - A fixed overhead variance that compares the budgeted fixed overhead to the fixed overhead that is applied to production base...
2 min read
cost accounting
financial planning
Flexible Budget
flexible budget - A budget that covers a range of potential outcomes by relating expense levels to the potential revenues
2 min read
financial planning
Incremental Budgeting
incremental budgeting - A budgeting approach where the prior year experience sets a base line for a new budget; changes are made based on new information but...
2 min read
financial planning
Continuous Budget
continuous budget - A budget that is constantly updated; as one month/quarter is completed another is added to the set the projections
2 min read
financial planning
Capital Expenditure Decision
capital expenditure decision - Also known as capital budgeting; planning and decision making related to longer term projects and expenditures
2 min read
financial planning
Cash Budget
cash budget - An essential budget component detailing planned cash receipts, disbursements, and financing actions
2 min read
financial planning
Bottom-up Participative Budget
bottom-up participative budget - A budget approach driven by the direct participation of lower-level employees
2 min read
financial planning
Budget
budget - A planning tool that outlines the financial plans for an organization; there are various types of budgets -- operating, capital, and financial
2 min read
financial reporting
financial planning
Budget Committee
budget committee - A group of senior managers from each business unit charged with leading the budget preparation and review process
2 min read
financial planning
Budget Slack
budget slack - The influence of behavior to "pad" a budget via misstating expected revenues and/or expenses; to create more favorable budget vs. actual perfo...
2 min read
financial planning
Cash Flow
Cash flow - the movement of money into and out of a business. Understanding and managing cash flow is critical for business survival and growth
5 min read
finance
accounting
+2
LIV-EPI - Automated Financial Forecast for Project-Based Firm
Case study of connecting accounting with projection models in one of the largest engineering firms in Slovakia, bringing real-time visibility and automation of ...
3 min read
project management
financial planning
+4