Explain the different elements of budgets and estimates
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Budget are actually cost estimates tied to detailed distribution of revenues..... The WBS budget and estimates are aggregated over all direct and indirect
cost element and performing organization,for the specified time period.
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Basic Elements of a Budget
(A) Start With Your Income. The key element to any budget is income. ...
(B) Move on to Fixed Expenses. Fixed expenses are bills that stay the same from month to month. ...
(C) Consider Flexible Expenses Next. ...
(D) Don't Forget Unplanned Expenses. ...
(E) Increase Your General Savings.
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