A static budget is based on a range of activities.
What is static budget?
- An example of a budget that includes predicted values for inputs and outputs that are thought of before the period in question begins is a static budget.
- Even with changes in sales and production quantities, a static budget, which is a projection of revenues and expenses for a given period, stays the same.
- The figures from static budgets can, however, be very different from the real results as compared to those that are discovered after the fact.
- Accountants, finance experts, and management teams of businesses utilize static budgets to assess the financial success of a company over time.
- The static budget is meant to be constant throughout the time period, independent of changes that might have an impact on results.
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