Business / Finance / Budgeting: The process of determining and recording the expected financial results of a future period, generally the next fiscal year. In some organizations budgeting is limited to financial items that are shown on the income statement, while in others the budgeting process produces the three major statements (Income Statement, Balance Sheet, and Cash Flow Statement). After the target time period begins, the budgeting process frequently includes tracking actual financial figures against the forecast as well. There is considerable overlap between the activities of budgeting and forecasting. Budgeting usually involves a more detailed account structure and a finer time scale than forecasting, which typically covers between three and seven years of higher-level projections.
Business / Human Resources (HR) / Zero-Based Budgeting: A budgeting system that starts with no authorized funds as a starting point. In a zero-based budget, each activity or program to be funded must be justified every time a new budget is prepared and res MORE
Business / Finance / Capital Budgeting: A firm's planned capital expenditures. MORE