A master budget combines operational and financial budgets into a comprehensive financial plan. Although a master budget can cover a period of up to one year, the cost control benefits a shorter ...

Every business, whether small or large, needs a way to track its expenses, revenue and profits. "Budgets are really important for both internal and external (reasons)," says Joseph Fahey, director of ...

Unlike a master budget for a small business, a functional budget is a document that applies to a limited area of the company. The word "functional" does not mean that the budget works, but that it ...