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Created with Fabric.js 1.4.5 Capital Budget or Capital Budgeting is the process in which a business determines which projects their going to do. Capital Budget= Plan for raising large and long-term sums for investment in plant and machinery, over a period greater than the period considered under an operating budget. Variance Budget=The difference betweenthe budgeted or baseline amount ofexpense or revenue, and the actual amount. Income statement: A financial statement that measures a company's financial performance over a specificaccounting period. Balance sheet: A statement of the assets, liabilities, and capital of a business or other organization at a particular point in time, detailing the balance of income and expenditure over the preceding period. Financial Statements:Income= shows the accounting periods revenue and the expenses charged against the revenue.Represents a period of time and the results thereof.Balance Sheet= Business financial statementthat shows a summary of the financial balances of the business broken out into Assets, Liabilities,and Equity as of a specific date. Budget and Financial Terminology Budget Variance is the difference between thebudgeted or baselineamount of expenseor revenue and the actual amount. Operating Budget= Is the annual budget of an activity stated in terms of Budget Classification Code, functional/sub-functional categories and cost accounts. It contains the total value and estimates, resources required for the performance of the operation including reimbursable work or services for others. Full-time equivalent (FTE)is a unit that indicates the workload of an employed person (or student) in a way that makes workloads or class loads comparable across various contexts. FTE is often used to measure a worker's or student's involvement in a project, or to track cost reductions in an organization.
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