budget

Examples of budget in the following topics:

• Budget Resolutions

  • Congress must create an annual budget resolution in response to the President's budget request according to the Congressional Budget and Impoundment Control Act of 1974 (also known as the Congressional Budget Act) .
  • The budget resolution establishes budget totals, allocations, entitlements, and sometimes includes reconciliation instructions to certain House or Senate committees.
  • April 15th is the target date for congressional adoption of the budget resolution set by the Congressional Budget Act.
  • In some instances, Congress has not adopted a budget resolution.
  • The Congressional Budget and Impoundment Control Act of 1974 (Congressional Budget Act), created during the Nixon administration, established the current budget resolution process.

• Preparing the Budget

  • The Office of Management and Budget (OMB) performs key tasks in preparing the presidential budget request that is submitted to Congress.
  • A great deal of preparation goes into the president's budget request submission, which is entitled, Budget of the U.S.
  • The structure of the OMB facilitates the preparation of the budget and the later submission of that budget to Congress.
  • The Office of Management and Budget plays a key role in preparing the president's budget request to Congress.
  • Summarize the key role played by the Office of Management and Budget in shaping the President's budget request

• Arguments for and Against Balancing the Budget

  • Balanced budgets, and the associated topic of budget deficits, are a contentious point within both academic economics and politics.
  • A balanced budget, particularly a government budget, is a budget with revenues equal to expenditures.
  • There is neither a budget deficit nor a budget surplus; in other words, "the accounts balance. " More generally, it refers to a budget with no deficit, but possibly with a surplus.
  • Balanced budgets, and the associated topic of budget deficits, are a contentious point within academic economics and within politics.
  • If balanced budgets were required and if the budget was in deficit during a recession, critics argue that the required cuts would make the economy even worse off.

• The Role of the Federal Budget

  • However, Congress is the body required by law to pass a budget annually and to submit the budget passed by both houses to the president for signature.
  • These include the Government Accountability Office (GAO), Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the U.S.
  • The federal budget also is one mechanism for conducting fiscal policy.
  • Congress is responsible for passing the Federal Budget.
  • Describe how the federal budget is created and its economic role

• Determining a Budget

  • Marketers tend to use several techniques to determine an advertising budget.
  • Ratio-to-sales - The amount budgeted is based on some portion of past or forecasted sales.
  • Competitive comparisons - The budget is based on the amount spent by major competitors.
  • Experimental approach - The budget is based on test market results.
  • Explain the information needed and techniques used to determine an advertising budget

• The Cost of Maintaining the Government

  • Each year in March, the Congressional Budget Office (CBO) publishes an analysis of the President's budget proposals.
  • The Houseand Senate Budget Committees begin consideration of the President's budget proposals in February and March.
  • The Budget committees each submit a budget resolution by April 1.
  • The United States House Committee on the Budget and the United States Senate Committee on the Budget are responsible for drafting budget resolutions.
  • The Office of Management and Budget plays a key role in preparing the president's budget request to Congress.

• The Goals of Capital Budgeting

  • The purpose of budgeting is to provide a forecast of revenues and expenditures.
  • Capital Budgeting, as a part of budgeting, more specifically focuses on long-term investment, major capital and capital expenditures.
  • The main goals of capital budgeting involve:
  • The real value of capital budgeting is to rank projects.
  • When a corporation determines its capital budget, it must acquire funds.

• Creating a Budget

  • A budget is the financial expression of an organization's operating plan for a period of time, usually at least a year.
  • Then, as the year unfolds, actual income and expenses are posted to the accounting records, and compared to what was budgeted, and a variance from budget for each item budgeted (e.g., sales, selling expenses, advertising costs) is calculated.
  • Other essential functions of budgets include:
  • There are two basic approaches or philosophies when it comes to budgeting.
  • The companies that adhere to this approach have their managers develop their own budgets.

• The Election Year Budget

  • The Budget of the United States Government often begins as the President's proposal to the U.S.
  • However, Congress is the body required by law to pass a budget annually and to submit the budget passed by both houses to the President for signature.
  • The annual budget deficit is the difference between actual cash collections and budgeted spending (a partial measure of total spending) during a given fiscal year, which runs from October 1 to September 30.
  • The 1996 United States federal budget was the United States federal budget to fund government operations for the fiscal year 1996, which was October 1995 – September 1996.
  • This budget request is President Obama’s first on-time budget proposal since 2011.

• The budget

  • Therefore, the organization must establish a marketing budget based on the required marketing effort to influence consumers.
  • The marketing budget represents a plan to allocate expenditures to each of the components of the marketing mix.
  • For example, the firm must establish an advertising budget as part of the marketing budget and allocate expenditures to various types of advertising media—television, newspapers, magazines.
  • A sales promotion budget should also be determined, allocating money for coupons, product samples, and trade promotions.
  • Similarly, budgets are required for personal selling, distribution, and product development.