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Definition of Priority-based budget
A budget that allocates funds in line with strategies.
Rule in bankruptcy proceedings whereby senior creditors are required to be paid in full
Methods of financing in which lenders and equity investors look principally to the
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.
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
A method of budgeting that develops budgets based on expected activities and cost drivers â€“ see also activity-based costing.
A method of costing that uses cost pools to accumulate the cost of significant business activities and then assigns the costs from the cost pools to products or services based on cost drivers.
A plan expressed in monetary terms covering a future period of time and based on a defined
The annual period over which budgets are prepared.
The process of ensuring that actual financial results are in line with targets â€“ 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
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
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 variety of approaches that emphasize increasing shareholder value as the primary goal of every business.
A method of budgeting that ignores historical budgetary allocations and identifies the costs that are necessary to implement agreed strategies.
activity based costing (ABC)
A relatively new method advocated for the
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
activity-based costing (ABC)
a process using multiple cost drivers to predict and allocate costs to products and services;
activity-based management (ABM)
a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
attribute-based costing (ABC II)
an extension of activitybased costing using cost-benefit analysis (based on increased customer utility) to choose the product attribute
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
managementâ€™s plan for investments in longterm
a process of evaluating an entityâ€™s proposed
a process in which there is a rolling
a plan that aggregates monetary details
a presentation of multiple budgets that
a budget developed by top management
the comprehensive set of all budgetary schedules
a budget expressed in both units and dollars
a budget that has been developed
an approach to budgeting that relates
see continuous budgeting
a comprehensive budgeting process
Activity-based costing (ABC)
A cost allocation system that compiles costs and assigns
A set of interlinked plans that quantitatively describe a companyâ€™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.
The multiplier associated with a change in government spending financed by an equal change in taxes.
The excess of government spending over tax receipts.
Consolidated Omnibus Budget Reconciliation Act (COBRA)
A federal Act
Loans granted usually by a financial institution where the asset being financed constitutes the sole security given to the lender.
Life insurance or annuity product in which the cash value and benefit level fluctuate according to the performance of an equity portfolio.
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