What is your budget?

It's your turn to be first in line."

Budget is a frequent word used in all organizations. It has been defined as a financial plan for future activities. Such as in the Oil & Gas industry a budget can include a sales or revenues budget detailed by products or services. Meaning that the revenue is being received from more than one source. Overall, budgets help management view how the company resources will be used. A budget can be presented in many formats, such as worksheets or graphs. Most surveys I have seen, even today, shows that many company's are not using a budget as one of their tools to tracking resources and planning for the company's future.

Why use a budget?

1. Planning
2. Set expectations
3. Guidance

Source: Ehow,Why Bussiness Need to Budget