Budgeting (Grade 11 NSC Matric Accounting): Flashcards

Financial tool estimating money received & paid in a period

Cash transactions - actual money in/out of bank account

Staying within financial limits - don't overspend

Identifying potential financial risks before they occur

Finding funding - helps secure loans or investments

Excluded - no actual money leaves the business

Excluded - no cash received from uncollectable debts

Receipts (money in) and payments (money out)

Income stmt forecasts performance; cash budget tracks cash flow

Timing: money comes in too slowly or goes out too quickly