Budget is the policy to be followed during the budget period for the attainment of specified organisational objectives. Definition of Budget According to CIMA Terminology, a budget is “A plan expressed in money. It is prepared and approved before the budget period and may show income, expenditure, and the capital to be employed. A budget is a sum of money set aside and divided up to cover particular expenses. Like allotting certain amounts for food, rent, movies, and manicures every month to make sure you don't run out of cash. BUDGET definition : 1. a plan to show how much money a person or organization will earn and how much they will need or…. Learn more. BUDGET meaning : 1 : an amount of money available for spending that is based on a plan for how it will be spent often used before another noun; 2 : a plan used to decide the amount of money that can be spent and how it will be spent
