Budget Committee

DEFINITION of 'Budget Committee'

A group of people that creates and maintains fiscal responsibility for an entity or organization. In a company, this committee usually consists of the top management and the CFO. Budget committees typically review and approve departmental budgets that are submitted by the various department heads.

BREAKING DOWN 'Budget Committee'

Budget committees play key roles in the success or demise of a company or other corporate entity. Committees that are able to keep their organizational budgets on track ensure smooth operation and financial solvency; those that cannot will soon encounter financial problems.

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    Working capital as current assets cannot be depreciated the way long-term, fixed assets are. In accounting, depreciation ... Read Full Answer >>
  2. Do working capital funds expire?

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  3. How much working capital does a small business need?

    The amount of working capital a small business needs to run smoothly depends largely on the type of business, its operating ... Read Full Answer >>
  4. What does high working capital say about a company's financial prospects?

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  5. How can working capital affect a company's finances?

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