Overview of Budgeting (Grade 10 NSC Matric Accounting): Flashcards
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Two main purposes of budgets
Two main purposes of budgets
Planning and control
What is the main budget?
What is the main budget?
Summary of all functional budgets
Two types of functional budgets
Two types of functional budgets
Operational and financial budgets
Most important part of profit budget
Most important part of profit budget
Sales budget
Capital budget purpose
Capital budget purpose
Plan spending on fixed assets
What is budgeted balance sheet?
What is budgeted balance sheet?
Sum of all budgets showing financial position
Cash budget tracks
Cash budget tracks
Expected cash inflow and outflow
Three sections of cash budget
Three sections of cash budget
Inflow, outflow, surplus/shortage
Does depreciation appear in cash budget?
Does depreciation appear in cash budget?
No - it's a non-cash expense
Operational budgets deal with
Operational budgets deal with
Day-to-day business activities