Question

Explain the different elements of budgets and estimates

Answer 1

Explanation:

The WBS budgets and estimates are aggregated over all direct and indirect Cost Elements and Performing Organizations, for the specified time periods.

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Answer 2

EXPLANATION:

• The budget contains the elements of planning, various resources, and operations, different financial terms, for a specific time period.  

• It is well-coordinated and comprehensive elements which are needed for the estimates in finance.

• The budgeting is done according to a specific plan. It is a comprehensive detail of the different resources used during operations.  

• It is defined for a certain time period with a set of factors that affect future activities and are within the control of the business.
• It determines the revenues and profits for the business.