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Types of budgeting depend on the use of the budget which could either be personal or business budgets. Business and Personal Budgets. Budgeting is simply the creation of a plan to properly manage money. A budget usually covers a period of time; for instance, a one-year or five-year budget plan.
A budget is a quantitative expression of a plan for a defined period of time.It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms.he budget of a government is a summary or plan of the intended revenues and expenditures of that government. There are three types of government budget: the operating or current budget, the capital or investment budget, and the cash or cash flow budget.