The comprehensive planning document for the entire organization is called the Master Budget.
What is master budget?
- The master budget, which also includes budgeted financial statements, a cash projection, and a financing plan, is the culmination of all lower-level budgets created by a company's numerous functional departments.
- The master budget typically covers a company's complete fiscal year and is given either monthly or quarterly.
- The master budget may be accompanied with an explanation text that details the company's strategic orientation, how the master budget will help achieve particular objectives, and the management procedures required to carry out the budget.
The headcount adjustments necessary to meet the budget may also be discussed.
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