Budget is the detailed statement of planned expenses and incomes which will be incurred and earned in the financial period (e.g. one year). Budget is helpful for a company in comparing the actual financial operations and planed financial operations

Few types of Budget

Production Budget
Estimates the no. of units be produced to achieve company's financial goals and objectives and how much cost will incur in producing these units

Marketing Budget
Estimates the expense or costs which will incur for implementing 7p's (Product, Price, Place, Promotion, personal relations, people and profit) of marketing mix to introduce and market products and services

Revenue Budget
Estimates the revenue and expenses needed to earn that income in a period of time
Cash budget
Also referred as cash flow budget. Estimates the cash inflow (income) and cash outflow (expenses) during a particular short period of time. It helps an entity to analyze the availability of cash to meet expenses

Project Budget
Estimates the costs and expense related to a projects or tasks of a projects

Sales Budget
Estimates the future sales and either these sales will be sufficient to achieve company's sales goals and objectives

Business start-up budget
Estimates the amount of capital (including working capital) needed to establish a business