Budgeting (Leaving Cert Business): Flashcards

Plan of expected income & expenses for family/individual

Plan showing expected cash inflows & outflows for business

Receipts minus Payments

Net Cash plus Opening Cash

Cash available at start of a month

Cash & credit sales, rental income, other money

When income is lower than expenditure

To access finance/secure loans/attract investment

To track spending on essentials vs non-essentials

Raise income (ask for raise, increase product costs)