Definition
Estimate of costs, revenues, and resources over a specified period, reflecting a management's reading of future financial conditions. One of the most important administrative tools, a budget serves also as a (1) plan of action for achieving quantified objectives, (2) standard for measuring performance, and (3) device for coping with foreseeable adverse situations.
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One Suggestion for Entrepreneurs Operating on Low Budgets
Because entrepreneurs typically operate on a shoestring budget, they must learn to benefit from resources that they don't directly control. This is done primarily by outsourcing any needs which are t ... Read more
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