Master Budget Definition | Becker
Accounting Dictionary
Master Budget
- A master budget is a budget for all of the planned activities of a firm. It normally is developed for a year at a time and normally includes an operating budget as well as a financial budget. The operating budget would include a sales budget; a production budget; and a selling, general, and administrative expenses budget. The financial budget would include a cash budget and pro forma (as if) financial statements. See also flexible budget. A budget that consolidates all budgets into an overall plan and control document, for a budgeted period. (Also called a comprehensive budget.)
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