Question

What Is Difference Between Budget & Budgeting?

Answer 1

The key difference between a budget and a forecast is that a budget lays out the plan for what a business wants to achieve, while a forecast states its actual expectations for results, usually in a much more summarized format. ... The budget is compared to actual results to determine variances from expected performance.

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Answer 2

Budgeting is the process of creating a plan to spend your money. This spending plan is called budget. creating this spending plan allows you to determine in advance whether you have enough money to do the things you need to do or you like to do. Budgeting means simply balancing your expenses with your income.

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