14 - Setting Budgets Flashcards
0
Q
Expenditure budget
A
A fixed sum of money to be spent in a given time period by a department.
1
Q
Budgets
A
Financial targets for the future covering revenue (income) and expenditure over a certain time period.
2
Q
Budget holder
A
A person who is accountable for seeing that a budget is kept to.
3
Q
Income budget
A
The sales revenue target for a department or the whole business.
4
Q
Delegated budgets
A
Giving someone control in the setting ad spending of budgets to departments or individuals.
5
Q
Profit budget
A
The target profit for the business over a given time period.
6
Q
Monitoring budgets
A
Keeping a check on progress towards achieving targets during the budget period.
