A statement showing estimated inflows of revenues and outflows of resources (expenses) is called budget. A budget document shows anticipated volumes of receipts that the management intends to realize during the ensuing year and payments expected to be made to generate intended receipts or revenues. Since such statement is developed annually, organization should have proper guidelines in place for budgeting and budgetary controls.
My package will carry:
- Importance of budgeting and budget document
- Authorities competent to develop this document
- Procedure for compilation of data for annual budget
- Budget Committee & its mandate
- Format of annual budget document