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Planning & Budget Meeting October 7, 2014SAC Planning and Budget Committee October 7, 2014 1:30 p.m. 3:00 p.m. F126 THE PLANNING AND BUDGET COMMITTEE is the participatory governance committee responsible
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Budget is a financial plan for a specified period, usually a year, used to estimate revenues and expenditures. Accounting is the process of recording, summarizing, and reporting financial transactions.
Businesses, organizations, and individuals who engage in financial transactions are required to file budget and accounting.
Budget and accounting can be filled out by gathering financial information, categorizing income and expenses, and calculating totals.
The purpose of budget and accounting is to track financial performance, make informed decisions, and comply with regulatory requirements.
Information such as income, expenses, assets, liabilities, and equity must be reported on budget and accounting.
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