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Definition of Budget deficit
The amount by which government spending exceeds government revenues.
The excess of government spending over tax receipts.
See budget deficit.
The debt owed by the government as a result of earlier borrowing to finance budget deficits. That part of the debt not held by the central bank is the publically held national debt.
The budget deficit in excess of the deficit that in the long run keeps constant the ratio of the publically held national debt to GDP.
The trade deficit and the government budget deficit.
A method of budgeting that develops budgets based on expected activities and cost drivers – see also activity-based costing.
activity-based budgeting (ABB)
planning approach applying activity drivers to estimate the levels and costs of activities necessary to provide the budgeted quantity and
The multiplier associated with a change in government spending financed by an equal change in taxes.
A detailed schedule of financial activity, such as an advertising budget, a sales budget, or a capital budget.
A plan expressed in monetary terms covering a future period of time and based on a defined
a financial plan for the future based on a single level
A set of interlinked plans that quantitatively describe a company’s projected
The annual period over which budgets are prepared.
a detailed set of documents that provides information
an intentional underestimation of revenues
the difference between total actual overhead
The process of ensuring that actual financial results are in line with targets – see variance
a planned expenditure
the process of formalizing plans and committing
A firm's set of planned capital expenditures.
management’s plan for investments in longterm
List of planned investment projects.
The process of choosing the firm's long-term capital assets.
Refers generally to analysis procedures for ranking
The process of ranking and selecting investment alternatives and
a process of evaluating an entity’s proposed
The series of steps one follows when justifying the decision to purchase
capital budgeting decision
Decision as to which real assets the firm should acquire.
A forecasted summary of a firm's expected cash inflows and cash outflows as well as its
Consolidated Omnibus Budget Reconciliation Act (COBRA)
A federal Act
a process in which there is a rolling
An excess of liabilities over assets, of losses over profits, or of expenditure over income.
Anegative balance in the retained earnings account that is caused by cumulative
a plan that aggregates monetary details
A method of budgetary control that flexes, i.e. adjusts the original budget by applying standard
a presentation of multiple budgets that
a budget developed by top management
A budget that takes the previous year as a base and adds (or deducts) a percentage to arrive at
the comprehensive set of all budgetary schedules
a budget expressed in both units and dollars
a budget that has been developed
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.
an approach to budgeting that relates
see continuous budgeting
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.
deficit on the balance of merchandise trade.
a comprehensive budgeting process
A method of budgeting that ignores historical budgetary allocations and identifies the costs that are necessary to implement agreed strategies.
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