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Budget and Balance Sheet totally different with each other.
Budget is prepared based on some standard data of previos or actual for the future activities or future performance and compare with actual activities and actual performance.
On the other hand Balance sheet is prepared for a specific period of time by showing total assets and total liabilities for a company . It shows the actual assets whcih company has and actual liabilities which has to pay.
A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders.
Budget is plane express in quantified form and is prepared at the start of the year.Budget iexternal parties, ie s used by internal management of company.
whlie balance sheet shows financial position of the company at year end and is usd by external parties i.e shareholder,and other stakeholders..
In short, Budget is the predetermined quantitative picture for any period, but Balance sheet is the actual / postmortem quantitative picture for any period.
Budget: is the future vision for spending the financial terms of any specific placed for some time to come, and it has several doors and items vary depending on the (Establishment - Bank - Company)
Balance sheet : The bottom is finished fiscal year (period ended), which reflects the financial position of the point of claiming the budgetary
Budget is the estimated and forcasted value while balance sheet represents the actual position.
Balance sheet- it is prepared to disclose the true financial position of the business
Budget expresses your intentions - it is the course you have chosen and plotted to take you to your desired destination.
Balance Sheet: Present the actual position of your business,
Budget: Present your projected/estimated position of your business.
A budget is the total expenses of a company for a given year. It is prepared for a future period of time and it is based on the past expenses and future strategies and trends. It is acts as guidance for expenditure. A balance sheet gives a picture of the financial health of the company at a particular point of time.
