What is a Budget? Definition

Beyond Budgeting > Forum Log in

What is a Budget? Definition
nura, hargeisa
What precisely is a budget? Let's collects some good definitions here.
According to Wikipedia, a budget (from old French bougette, purse) is a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms.

What Precisely is a Budget?
Jeroen van de Graaf, Netherlands
An estimate of costs, revenues and resources over a specified period, reflecting a reading of future financial conditions and goals.
One of the most important administrative tools, a budget serves also as a plan of action to achieve quantified objectives, as a standard to measure performance and as a device for coping with foreseeable adverse situations.

What is a Budget?
Qudsiya Amatun Nayeem, Student (MBA), India
A budget generally refers to your financial resources which you pre-plan for a specific area over a limited time span.

BUDGET - a Mnemonic / Acronym
Arif ur Rehman, Professor, Pakistan
You can see BUDGET as an acronym:
B = Balanced
U = Utilization
D = Doables
G = Get
E = Effective
T = Transaction
Sometimes, we are swayed by labyrinths of non-connectivity in debates/dialogues. This obviously is non-intentional. The mnemonic spells of the Balanced (most productive) Utilization of Doables (practically feasible variables) to Get (achieve) Effective (optimal utilization) of resources calling for the Transaction, which fundamentally then will be transformational.

BUDGET as an Acronym
K.Narayana Moorthy, HR Consultant, India
Mr. Arif ur Rehman's two points are highly relevant for a business project budgeting in terms of one doables (practically feasible variables) and two, effective (optimal utilization of resources). Thanks.


    Do you wish to study further? You can learn more from the summary, forum, discussions, lessons, courses, training, instructions, expert tips, best practices and education sources. Register.  

Special Interest Group Leader

You here

More on Beyond Budgeting
Best Practices

Expert Tips


About 12manage | Advertising | Link to us | Privacy | Terms of Service
Copyright 2016 12manage - The Executive Fast Track. V14.1 - Last updated: 25-10-2016. All names tm by their owners.