Can any body tell me that is budget only for expenses or can be for Asset, liabilities and income also. My openion is it can be for all (Asset, liability, Expense and income). Please help me according to the IAS/IFRS.
Dear Mohammed :-
Budget can be to revenue& expenses but when we put assets & liabilities we can called it Feasibility study to project we make this in starting of any activity .
Budgets are prepared both for revenue and capital expenditure. Revenue Budget gives you the financial progress of the company …