Budgeted

Cost Overrun

Political and regulatory changes that were not accurately forecast are also included in this category. He had to be careful, because we are budgeting for the largest overall deficit that we have ever budgeted for, an overall deficit of £950 million. Therefore, the losses are budgeted—we now have total agreement—up to £105 million. This is in addition to the £1.4 billion already budgeted to support the beef sector during the current financial year. American definition and synonyms of budget from the online English dictionary from Macmillan Education. The budget of an organization or country is its financial situation, considered as the difference between the money it receives and the money it spends. The Boeing Dreamliner programme, announced in 2003, was supposed to cost $6 billion and see the plane take to the air in 2008.

Synonyms Of Budget In English:

To plan for the use of in a budget.The prestigious building project is budgeted in great detail, from warf facilities to the protocollary opening. change, appropriation, spending plan, Resources, means, funds, estimated expenses, bounty, bailout, amount, economic, quantity, body, accounts, retrench, economy, cost of living, bulk, corpus, planned disbursement. statement, planned disbursement, estimated expenses, account, funds, allocation, means, quantum, bulk, allowance, spending plan, quantity, Resources, total. When compiling the budget, employees tend to estimate low sales and high expenses, so that they can easily meet the budget and achieve their compensation plans.

Changing business conditions, including changes in the overall economy or global trade, can cause budget variances. There could be an increase in the cost of raw materials or a new competitor may have entered the market to create pricing pressure.

It is worth noting that most companies use a flexible budget for this very reason. A variance should be indicated appropriately as “favorable” or “unfavorable”. A favorable variance is one where revenue comes in higher than budgeted, or when expenses are lower than predicted. Conversely, an unfavorable variance occurs when revenue falls short of the budgeted amount or expenses are higher than predicted.

Related Terms

Unfavorable variance is an accounting term that describes instances where actual costs are greater than the standard or expected costs. For instance, assuming production is cut, variable costs are also going to be lower.

The search algorithm handles phrases and strings of words quite well, so for example if you want words that are related to lol and rofl you can type in lol rofl and it should give you a pile of related slang terms. Or you might try boyfriend or girlfriend to get words that can mean either one of these (e.g. bae). Please also note that due to the nature of the internet , there will often be many terrible and offensive terms in the results. budgeted synonym In particular, they will assist investigators working in globally budgeted systems where administrative databases that record individual patient costs are unavailable. If a dispensary construction project was not sanctioned, and hence not budgeted for, this does not show that the work was not carried out. A minimalist approach would be to take the costs for only those technologies approved for public funding and budgeted for.

Note that this thesaurus is not in any way affiliated with Urban Dictionary. Dictionary apps Browse our dictionary apps today and ensure you are never again lost for words. Far from showing that the chairman and other non-executive directors knew of or budgeted for exorbitant profits, it conclusively proves the reverse. The initial budgeted figure was £230 million, in 1973, which by 1979 had risen to £600 million—not insubstantial sums. Estimates were little more than informed guesses, and as a result the final bill often turned out to be well in excess of the sum the landowner had originally budgeted. They have budgeted carefully, informed themselves about the availability and quality of health services and made judicious decisions about the private health insurance coverage they need.

Financial

As a result of the variance, net income may be below what management originally expected. Due to the way the algorithm works, the thesaurus gives you mostly related slang words, rather than exact synonyms. The higher the terms are in the list, the more likely that they’re relevant to the word or phrase that you searched for.

Championed demonstrates and illustrates the ability to flourish and lead in management roles and do so with a strong ability and talent to execute. This action word is an excellent choice for Executive Resumes or job seekers with extensive Project Management, Administrative or Leadership experience. Pro forma, Latin for “as a matter of form” or “for the sake of form”, is a method of calculating financial results using certain projections or presumptions. A static budget is a type of budget that incorporates anticipated values about inputs and outputs before the period begins.

As an alternative to “responsible for implementing” or “managed the installation of”, integrate is simple, concise and precise. The modern resume industry stresses the importance of concise documents and words that can illustrate an action in a simpler form, are always paramount. Spearhead – “Execute” is a premium synonym for this word, but spearhead delegates action and initiative. Verbiage such as these two are great for Business Development, Product Life Cycle or Information Technology professionals with comprehensive experience creating and innovating https://accounting-services.net/ solutions in a variety of facets. Catalyze – Often associated with the term “drive”, catalyze or optimize is an excellent alternative to show an ability to deliver radical changes in enumeration. Typically this word is associated with Sales and Marketing or Budgeting and Forecasting related industries, but it can fit into virtually any facet that allows for a resume to show a talent to invoke transformation. When writing a resume, it is imperative to use action words to properly illustrate and demonstrate the talents you bring to the table.

Forcing the organization to follow the budget requires a group of financial analysts who track down and report on variances from the plan. The most difficult item to estimate in the cash budget is the net change in working capital from period to period. During periods of rapid growth, working capital can be a strongly negative number, since the company must invest in more accounts receivable than usual. Cost accounting is a form of managerial accounting that aims to capture a company’s total cost of production by assessing its variable and fixed costs.

• There may also be a discussion of the headcount changes that are required to achieve the budget.
• Then, management will be tasked to see if it can remedy the situation.
• If the variances are considered material, they will be investigated to determine the cause.

So, carrying the thing to a finish, I took up the matter of putting them on a budget and providing the funds. Text is available under the Creative Commons Attribution-ShareAlike License; additional terms may apply. Scottish Parliament Building, originally “expected to take two years and cost £40 million” but “took five years and cost £400 million”. Managers tend to ignore new business opportunities, because all resources are already allocated toward attaining the budget, and their personal incentives are tied to the budget. Another document sometimes included in the master budget is a set of key performance metrics that are calculated based on the information in the budget.

In any case care should be taken to accurately describe what is meant by the chosen percentage so as to avoid ambiguity. Cost overrun is distinguished from cost escalation, which is an anticipated growth in a budgeted cost due to factors such as inflation.

However, spreadsheets may contain formula errors, and also have a difficult time constructing a budgeted balance sheet. Larger organizations use budget-specific software, which does not have these two problems. The selling and administrative expense budget may be further subdivided into budgets for individual departments, such as the accounting, engineering, facilities, and marketing departments. Championed – A better selection compared to words such as led or oversaw.

For example, it may show accounts receivable turnover, or inventory turnover, or earnings per share. These metrics are useful for testing the validity of the budget model against actual results in the past. Implementing the newest power words are a proven way to enhance your resume visibility and impress recruiters. Incorporating trendy jargon is not exclusively for the purpose of cosmetics, however it also showcases advanced written communication skills vital to the success at nearly every role or title. Integrate – Integrate is a better term for one who identifies and/or crafts a product, program, procedure or deliverable in to an existing and established framework or protocol.

The internal rate of return is a metric used in capital budgeting to estimate the return of potential investments. Similarly, if expenses budgeted synonym were projected to be $200,000 for the period but were actually $250,000, there would be an unfavorable variance of $50,000, or 25%.

Under a flexible budget, this is reflected, and results can be evaluated at this lower level of production. Under a static budget, the original level of production stays the same, and the resulting variance is not as revealing.

Meaning Of Budgeted In English

The economic analysis budgeted the returns from the yearly rotations to determine profitability. For example, in many health systems, pharmaceuticals are budgeted separately from other medical services. This should be compared with the city’s budgeted receipts of about e1.4 million. This price rise means that budgeted synonym the bill is going to be much higher than we have budgeted for. Make sure you’ve budgeted carefully and know that you can actually afford the expense. More people are using home computers to help them plan and budget efficiently. We have continued to exercise caution in our budgeting for the current year.

If you budget certain amounts of money for particular things, you decide that you can afford to spend those amounts on those things. The budget for something is the amount of money that a person, organization, or country has available to spend on it. an estimate, often itemized, of expected income and expense for a given period in the future. DisclaimerAll content on this website, including dictionary, thesaurus, literature, geography, and other reference data is budgeted synonym for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. What we can’t do is send budget amendments to the financial review commission assuming those positive developments are going to occur. City men can make a budget popular or the reverse, and therefore the Mills Happertons of the day were welcome.

A flexible budget allows for changes and updates to be made when assumptions used to devise the budget are altered. A static budget remains the same, however, even if the assumptions change. The flexible budget therefore allows for greater adaptability to changing circumstances and should result in less of a budget variance, both positive and negative. The Urban Thesaurus was created by indexing millions of different slang terms which are defined on sites like Urban Dictionary. These indexes are then used to find usage correlations between slang terms. The official Urban Dictionary API is used to show the hover-definitions.

The final bill was closer to $32 billion; and the plane arrived three years late. The Big Dig, a multi-billion dollar highway reconstruction in Boston, was delivered nine years late with a cost overrun of 190% adjusted for inflation. Thus, enforcing a master budget can skew the operational budgeted synonym performance of a business. Because of this problem, it may be better to employ the master budget as just a rough guideline for management’s near-term expectations for the business. Smaller organizations usually construct their master budgets using electronic spreadsheets.