A budget or budget (both English and French: Budget) is generally a list of all planned expenses and revenues. This is a plan for savings and spending.
Watching: What is a Budget?
Budgeting is an important concept in microeconomics, which uses budget flows to illustrate trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms.
In short, the purpose of a budget is to:
• Providing projections of revenues and expenses, which means building a business model of how we can perform financially, which means that with a given strategy, events events and plans are implemented.
• Enable the actual financial performance of the business to be measured with the forecast.
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The budget is divided into 3 categories
Family budget
It is a household income and expenditure plan. Family budget data is collected through family budget surveys conducted by the state statistical office.
Business budget
A business budget is a business plan of revenue and expenditure expressed in kind or financially for a certain period in the future (week, month, quarter, year). In general, in revenue planning, sales revenue is projected (classified by product group, sales region, and customer type) based on demand forecast results.
The budget expenditure section shows the expected costs for sales and advertising, and distribution costs (packing, storage, transportation). This budget plan is used as the basis for making other business plans, such as production, consumption, advertising and distribution plans. The investment plan is also included in the budget of the business, as it represents the expenditures necessary to purchase fixed assets or increase working capital.
State budget
The state budget, also known as the state finances, is the government’s financial projections, which specifies the expected revenues and expenditures for a fiscal year or fiscal year, for example fiscal 1997.
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The main source of government revenue is taxes, but may also include other sources of revenue such as non-tax fees, compulsory insurance, aid, profits and other payments made by international enterprises. business. The part of government spending can be divided into recurrent expenditure, that is, spending to operate the state apparatus, paying interest and spending on public investment (in developing countries, it is called development investment spending). , including infrastructure investments and new factories). In the state budget hierarchy, the central budget is separated from the local budget in terms of both revenue and expenditure.
However, the central government’s budget can affect local budgets by deciding on local revenue and local budget transmission. When we say state budget, we understand that unos includes both central budget and local budget
(References: Nguyen Van Ngoc, Economic Dictionary, National Economics University)
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