budgeting definition
Definition: Establishing a planned level of expenditures, usually at a fairly detailed level. A company may plan and maintain a budget on either an accrual or a cash basis. . Business budgeting is one of the most powerful financial tools available to any small-business owner. Put simply, maintaining a good short- and long-range financial plan enables you to control your cash flow instead of having it control you.
Small Business Information. Definition: A Budget is a plan that outlines an organization's financial and operational goals. So it may be thought of as an action plan; planning a budget helps a business allocate resources, evaluate performance, and formulate plans. The budget is an essential part of a business plan when starting a new business.