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10 cards from this deck
Financial plan showing predicted income & expenditure
Future-focused (predicted amounts)
Shows actual financial results for a past period
Past-focused (actual amounts)
Timing: budgets = future predictions, statements = past reality
Planning tool to decide how to spend money wisely
Historical record documenting what actually occurred
Net Income=Total Income−Total Expenses\text{Net Income} = \text{Total Income} - \text{Total Expenses}Net Income=Total Income−Total Expenses
Estimated or expected amounts
Real or actual amounts
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