Types Of Budgets Flashcards Preview

AAT Budgeting L4 AQ2016 > Types Of Budgets > Flashcards

Flashcards in Types Of Budgets Deck (9)
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1

Incremental budget

Produces a series of budgets over time that only changes gradually

2

Zero based budget

Budget starts back at zero with no account taken from previous budgets

3

Rolling budget

Budget made up of 12 months. As one month passes, another month is added on to the end. Jan - Dec, Feb - Jan, Mar - Feb

4

Strategic budget

Long term (5yr+) budget produced in outline only

5

Operational budget

Short term (12mth) budget produced in detail

6

Master budget

Brings data together from all subsidiary budgets and produces a budgeted P/L, BS and CB

7

Cash budget

Shows planned cash flows over the budget period

8

Fixed budget

A budget which is set for a particular level of activity

9

Flexed budget

A budget which is adjusted to allow for changes in costs resulting from a change in the level of activity