Budgeting for an SAE Project Note Taking Guide
4056 Budgets
Leanne Brown
Modified from Georgia Agricultural Education Curriculum Office July, 2002
Objectives:
Define budget
Explain budgeting process
Explain types of budgets
Complete a partial decision
Complete a cash flow budget
BUDGET
A plan for _________________ and __________________ over a given
period of time.
Purposes of budget:
Assist in decision making
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–____________________________________________
–____________________________________________
–____________________________________________
Budgeting Process:
Forecast types of expense items
Estimate
amounts of each input
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Estimate
amount of goods and services that should result
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Partial Budget
_____________________________________________________________
_______________________________________________________________
________________. Should I purchase the 42" riding mower or the 30"
riding mower?
Whole Farm Budget
Estimate income and expenditures for the fiscal or calendar year at the total
farm level, such as ____________________.
Enterprise Budget
Estimate income and expenditures for the fiscal or calendar year for the
specific enterprise, such as
_________________________________________________
Total Budget
Estimate total income and expenditures for the fiscal or calendar year for the
________________ or _____________. What net income can I expect for the
year from all my combined efforts?
Cash Flow Budget
A budget in which income and expense forecasts are allocated by week,
month, quarter, or other period as appropriate to the business.