Budget Determination

Budget determination refers to the process of setting financial limits for spending and revenue within an organization, government, or individual context. It involves estimating income and expenses for a specific period, prioritizing goals, and making informed decisions about resource allocation. This process helps in managing finances effectively, ensuring that spending aligns with available funds and financial objectives. By analyzing historical data and forecasting future needs, budget determination aims to create a realistic and balanced budget that supports strategic planning and financial stability.