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Definition of Budget cycle
The annual period over which budgets are prepared.
A detailed schedule of financial activity, such as an advertising budget, a sales budget, or a capital budget.
The amount by which government spending exceeds government revenues.
Repetitive cycles of economic expansion and recession.
A firm's set of planned capital expenditures.
The process of choosing the firm's long-term capital assets.
A forecasted summary of a firm's expected cash inflows and cash outflows as well as its
The length of time between a firm's purchase of inventory and the receipt of cash
In general, the time between cash disbursement and cash collection. In net working capital
An expiration cycle relates to the dates on which options on a particular security expire. A
The period between the 2 latest highs or lows of the S&P 500, showing net performance of a
The average time intervening between the acquisition of materials or services and the final
The time it takes to bring new and/or improved products to market.
The frequency with which an asset is replaced by an equivalent asset.
A method of budgeting that develops budgets based on expected activities and cost drivers – see also activity-based costing.
A plan expressed in monetary terms covering a future period of time and based on a defined
The process of ensuring that actual financial results are in line with targets – see variance
A method of budgetary control that flexes, i.e. adjusts the original budget by applying standard
A budget that takes the previous year as a base and adds (or deducts) a percentage to arrive at
An approach to costing that estimates and accumulates the costs of a product/service over
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
A budget that allocates funds in line with strategies.
A method of budgeting in which as each month passes, an additional budget month is added such that there is always a 12-month budget.
A method of budgeting that ignores historical budgetary allocations and identifies the costs that are necessary to implement agreed strategies.
Refers generally to analysis procedures for ranking
The process of ranking and selecting investment alternatives and
activity-based budgeting (ABB)
planning approach applying activity drivers to estimate the levels and costs of activities necessary to provide the budgeted quantity and
a financial plan for the future based on a single level
a planned expenditure
the process of formalizing plans and committing
a detailed set of documents that provides information
an intentional underestimation of revenues
the difference between total actual overhead
management’s plan for investments in longterm
a process of evaluating an entity’s proposed
a process in which there is a rolling
the time between the placement of an order to
a plan that aggregates monetary details
a presentation of multiple budgets that
a budget developed by top management
life cycle costing
the accumulation of costs for activities that
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
the comprehensive set of all budgetary schedules
a budget expressed in both units and dollars
a budget that has been developed
product life cycle
a model depicting the stages through
an approach to budgeting that relates
see continuous budgeting
a comprehensive budgeting process
A set of interlinked plans that quantitatively describe a company’s projected
The series of steps one follows when justifying the decision to purchase
List of planned investment projects.
capital budgeting decision
Decision as to which real assets the firm should acquire.
cash conversion cycle
Period between firm’s payment for materials
The multiplier associated with a change in government spending financed by an equal change in taxes.
The excess of government spending over tax receipts.
Fluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak.
Political Business Cycle
A business cycle caused by policies undertaken to help a government be re-elected.
Real Business Cycle Theory
Belief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy.
Consolidated Omnibus Budget Reconciliation Act (COBRA)
A federal Act
The period of service for which a company compensates its employees.
The frequent, scheduled counting of a subset of all inventories,
The length of time between a purchase of materials and collection of accounts receivable generated by the sale of the products made from the materials.
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