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ANNUAL BUDGET IS AN ESTIMATED AND EXPECTED POSSIBLE INCOME AND EXPENDITURE IN TERMS OF QUANTITY AND MONETARY VALUE FOR A SET PERIOD OF TWELVE MONTHS AHEAD WHICH WILL BE COMPARED AT THE END OF THE PERIOD OR DURING THE SAID PERIOD AT ANY TIMEWITH ACTUALS INORDER TO TAKE CORRECTIVE ACTION ON TIME.
Annual budgets can apply to either a fiscal or calendar year. These budgets help their creators to plan for the upcoming year and make the necessary adjustments in cash flow to cover expenses. Annual budgets help both individuals and organizations to accurately project their future cash flows and effectively manage their money.
An annual report can be written for several reasons. While some company structures mandate annual reports, others do it with the goal of informing lenders and investors of the company's finances. This is because investors often have a specific monetary investment in the company so they want to see how the money is being earned and spent. An annual report is also written with the purpose of getting an overview of the company's budget, assets and liabilities.
Annual Budget is a Summary of Income and Probable expenses based on that particular revenue forecated.
You can say it is a benchmark of performance in Papers as per the actual predictions.
