Budget Planning for Business

In accounts, budgeting is a process of organising a complete statement of financial results that are expected for a specific time period in the future. It predicts the future financial situation and plans.

This unit seeks to deliver guidance on basic aspects of financial planning, the role of budgeting, budgetary control and the installation of a budgetary control system. It also describes the various types of budgets, the organisation of budgeting and budget procedures.

On completion of this unit learners will be equipped to identify fixed and flexible budgets, classification of budgets, the process of zero-based budgeting, and advantages of zero-based budgeting.