What is the difference between budget and financial statement
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The objective of a budget is different from the objective of other financial statements. The main goal of a budget is to manage and control revenues and expenses by estimating amounts and projecting them in the future, following a set strategy. Budgets are financial guidelines for the business that can be done for one, five or 10 years. Budget numbers, which can be allocated by month, quarter or year, provide a map for the business to go from where it is to where it wants to be financially. Other financial statements often have the main goal to present actual, accurate and reliable information. They present information on actual data, not what the business wants it to be
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