BUSI 601 Chapter Notes - Chapter 10: Financial Statement, Income Statement, Bayesian Probability
12 Sep 2016
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Document Summary
Budget: a detailed plan for the acquisition and use of financial and other resources over a specified period of time for example, a year, a month, or a quarter. Budgeting: the process of preparing one or more budgets. Long range plan: a plan that identifies actions required during the 5- to 10-year period covered by the plan to attain the organization"s strategic goals. Capital budgeting: a process of identifying, evaluating, selecting, and controlling an organization"s capital investments (i. e. , its long-term projects and programs) Planned spending on projects and initiatives that lead to long-term value and competitive advantage. Master budget: an aggregation of all subunit budgets into an integrated plan of action for the budget period, comprehensive budget for a specific period. Operating budgets: an aggregation of all subunit budgets into an integrated plan of action for the budget period. Financial budgets: budgets that identify and relate to sources and uses of funds for planned operations and capital expenditures.
