BUDGETS

Budget is a numerated programme designed primarily to allocate the resources (personnel, materials, tools, and facilities) of an organization. It is the blueprint of a future course of action, an estimate that indicates the future usually in monetary terms sometimes expressed in time, man-hours etc. a projection that defines the anticipated cost of attaining an objective. Actually a budget is more than a plan; it is a device for controlling activities actual results for the period, in terms of income or expenditure, are compared with the budgeted fixtures. Management must take rectification measures if significant variations occur.