DEFINITION OF BUDGET AND USES OF BUDGET, A budget may be defined as a financial statement of the total estimated revenue and the proposed expenditure of a government in a given period of time, usually a year. A budget is a calculation plan, usually but not always financial, for a defined period, often one year or a month. A budget and uses of budget may include projected sales volumes and revenues, resource quantities including time, costs and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities and cash flows. Companies, governments, families, and other organizations use budgets to express strategic plans of activities in measurable terms. budget and uses can be seen as listed below
A budget expresses intended expenditures along with proposals for how to meet them with resources. A budget may express a surplus, providing resources for use at a future time, or a deficit in which expenditures exceed income or other resources.
BALANCED AND UNBALANCED BUDGET
PERFORMANCE OBJECTIVES to BUDGET AND USES
Explain the concepts of budget surplus balanced budget and the component of national debt.
Explain the concept of and criteria for revenue allocation (including resource control) in Nigeria and associated problems
IMPORTANCE OR USES OF BUDGET
The budget of a country is used to achieve the following objectives:
- Allocation of resources: Budget is usually use to allocate resources from one sector of the economy to another
- To communicate government economic objectives and policies: Government usually uses budget as medium to communicate her economic objectives and policies to its people.
- Appraisal of government performance: Budget is used by the citizens and international community to appraise the performance of the government.
- To foster economic growth and development: Budget is used generally to foster economic growth and development of a country.
- Budget is used to curb inflation and deflation: Budget is generally used by government to control inflation and deflation in the economy.
- economic tools for nation building
- factors affecting the expansion of industries
- mineral resources and the mining industries
- demand and supply
- types of demand curve and used
WEED AND THEIR BOTANICAL NAMES
1. ENVIRONMENTAL FACTORS AFFECTING AGRICULTURAL
BUDGET AND USES
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