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.

  1. Revenue

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  3. Budget Manual

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  4. Budgetary Slack

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  5. Expense

    1. The economic costs that a business incurs through its operations ...
  6. Chief Financial Officer - CFO

    The senior manager responsible for overseeing the financial activities ...
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  2. What is a profit and loss (P&L) statement and why do companies publish them?

    A profit and loss (P&L) statement, or balance sheet, is essentially a snapshot of a company's financial activity for ... Read Full Answer >>
  3. How do dividends affect the balance sheet?

    Dividends paid in cash affect a company's balance sheet by decreasing the company's cash account on the asset side and decreasing ... Read Full Answer >>
  4. Are dividends considered an expense?

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  5. Do dividends go on the balance sheet?

    The only account recorded on the balance sheet, when dividends are declared and before they are paid out to a company's shareholders, ... Read Full Answer >>
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