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What is the budget cycle?

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What is the budget cycle? and What are the different budget formats? Describe each.

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What is the budget cycle? and What are the different budget formats? Describe each.

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Question #1 - What is a budget cycle?

A budget cycle is the time it takes from the time one budget begins until the time that the next budget starts. A budget cycle is usually a twelve month period, although there are variations to this time frame. For many companies, a two year budget works better due to the nature of their operations. In this case, the company would operate on a 24 month budget. In rare instances, it may be more feasible for a company to have a shorter time span for their budget. If continued viability of the company is a concern and management is not certain if the company will remain open for the entire next year, a six month or eight month budget may be more appropriate.

The duration of the budget is based on two ...

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