line item budget

  

Definition

A budget in which the individual financial statement items are grouped by cost centers or departments. It shows the comparison between the financial data for the past accounting or budgeting periods and estimated figures for the current or a future period.

Use line item budget in a sentence

  • They were grouped and my dad explained to me about how the line item budget worked and how it impacted us.

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  • The line item budget was sufficient for our purposes as its organization indicated the information we needed to extract from the data.

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  • You should try and keep a line item budget so that you can always figure out how much you have to spend.

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