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| Budget | Written financial plan of a business for a specific period of time, expressed in dollars |
| Budgeting | Planning the financial operations of a business |
| Budget period | Length of time covered by a budget |
| Budgeted income statement | Statement that shows a company’s projected sales, costs, expenses, and net income |
| Comparative income statement | Income statement containing sales, cost, and expense information for two or more years |
| Sales budget | Statement that shows the projected net sales for a budget period |
| Purchases budget | Statement prepared to show the projected amount of purchases that will be required during a budget period |
| Selling expenses budget | Statement prepared to show projected expenditures related directly to the selling operations |
| Administrative expenses budget | Statement that shows the projected expenses for all operating expenses not directly related to selling operations |
| Performance report | Report showing a comparison of projected and actual amounts for a specific period of time |
| Cash receipts budget | Statement that reports projected cash receipts for a budget period |
| Other revenue and expenses budget | Statement showing budgeted income and expenses from activities other than normal operations |
| Cash payments budget | Statement that reports projected cash payments for a budget period |
