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TRAINING

Financial management
Demo | Guidelines for future training

 Unit 4: Budgeting


[ Keywords: Budgeting ]


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Unit 4: Budgeting
  Definition
  Purposes of Budgeting:
  Characteristics of budgeting
  Importance of budgeting
  Principles of Budget
  Cost Analysis - Short-run Cost Function
  Cost Concepts
  AC can be broken down into two components – AFC and AVC
  Connection between AC and MC
  Short-run cost curves
  The link between production and costs
  The Long-Run Cost Curve
  The Least-cost Rule
  Other cost concepts
 

Definition

Budget is an operational plan, for a definite period usually a year.

It is expressed in financial terms and based on the expected income and expenditure.