Departmental budget

Departmental budget,

Definition of Departmental budget:

  1. A tool projecting the income and expenses of a specific department in order to achieve its financial goals. A departmental budget allows the firm to analyze the costs and expenses related to a certain department and whether the firms income is sufficient to meet these expenses. Further, it enables management to measure its financial performance over time.

Meaning of Departmental budget & Departmental budget Definition