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Coiling of the umbilical cord:
Budgets
Formal quantitative plans for the financial management of resources over a specified period, often used for controlling and directing resources.
Budgeted Income Statement
A financial report projecting revenue, expenses, and net income for a future period, based on management's expectations.
Budgeted Balance Sheet
A financial statement that projects the financial position of a company at a future date, showing expected assets, liabilities, and equity based on planned operations and initiatives.
Continuous Budget
A rolling budget for a 12-month period where the budget moves forward one month (or another period) as the current month (or period) is completed.
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