Budget assists in controlling the actual costs. Importance of Budgetingīudgeting is a very important part of the company’s financial well-being. Moreover, it contains a summary of intended expenditures. In other words, a budget is the allocated amount for a particular purpose. It includes estimated sales volumes and other revenues, expenses, and cash flows. Benefits of Maintaining a Budget StatementĪ Budget is a quantitative expression of a financial plan for a defined period.

Budget Template (Excel, Google Sheets, OpenOffice).