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Submitted By :
Pooja S Bulbule
MIS -111301012
Branch civil
Roll no. -03
What is Budgeting ?
It is the process of creating a plan to spend your money that
allows you to determine in advance whether you will have
enough money to do the things you need to do or would like
to do.
Contd
..
It is nothing but creating a plan for your future income and
expenditures that you can use as a guideline for spending and saving.
Budgeting is simply balancing your expenses with your income.
PURPOSES OF BUDGETING
Mechanism for translating fiscal objectives into projected monthly spending
pattern.
Enhances fiscal planning and decision making.
Clearly recognizes controllable and uncontrollable cost areas.
Offers a useful format for communicating fiscal objectives.
Allows feedback of utilization of budget
Contd..
Helps to identify problem areas and facilitates effective
solution.