Managing Finance Homework Help

Introduction

A budget refers to a schedule that shows an amount of the revenue the organizations aims to make and the expenses to be incurred to realize that revenue. Budgets are made by the companies and government which include Federal and State government. Budget are made at the end of financial period do determine whether the expenses incurred are justified for the revenues that are generated in the organization. The budget prepared by the institutions is reviewed periodically to determine whether they are achievable by the organization (Smith & Lynch, 2004: 25).

Body

Types of budgets that are pegged with the sales budget

There are various types of budgets that are made by the organizations and include sale budget, expenditure budget, production budget, direct-material budget, direct-labor budget and manufacturing-overhead budget. Sale budget can be defined as a list that shows the amount of sales that the organization hopes to make. The units of production and thus amount of sales to be made are on the currency of the country in question. The sale budget is important in making other types of budget in that it gives the amount of the revenue the company expect to make that should be lower than the expenditure that the company expect to make for the company to be profitable (Smith & Lynch, 2004: 68).

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