Budgets (A Level) | 预算（A Level）

📚 Budgets (A Level) | 预算（A Level）

A budget is a financial plan that sets out expected revenues and costs for a business over a future period, usually one year. It is both a planning tool and a control mechanism, helping managers allocate resources, set targets and monitor performance.

预算是一份财务计划，列明企业在未来一段时期（通常为一年）内的预期收入和成本。它既是规划工具，也是控制机制，帮助管理者分配资源、设定目标并监控绩效。

1. What is a Budget? | 什么是预算？

A budget is a quantified plan of action for a future period. It is normally expressed in monetary terms, but may also include non-financial measures such as units of output or labour hours.

预算是未来期间的量化行动计划。它通常以货币形式表示，但也可以包含非财务指标，例如产量单位或工时。

Budgets can be prepared for the whole organisation or for individual departments, projects, products or cost centres. They translate strategic objectives into short-term operational targets.

预算可以针对整个组织，也可以针对单个部门、项目、产品或成本中心编制。它们将战略目标转化为短期经营指标。

A budget differs from a forecast. A forecast predicts what is likely to happen, whereas a budget is a planned target that the business commits to achieving.

预算与预测不同。预测是对可能发生情况的预计，而预算是企业承诺要实现的目标。

2. The Purpose of Budgets | 预算的目的

Budgets serve several interrelated functions. They provide direction, allocate scarce resources, set performance standards and create a framework for financial control.

预算具有若干相互关联的功能。它们提供方向、分配稀缺资源、设定绩效标准，并建立财务控制框架。

Planning — managers are forced to look ahead and prepare for risks. 规划——管理者被迫向前看并为风险做准备。
Control — actual results are compared with budgets to identify variances. 控制——将实际结果与预算进行比较，以识别差异。
Coordination — budgets align the activities of different departments. 协调——预算使不同部门的活动保持一致。
Communication — budgets communicate targets and priorities throughout the firm. 沟通——预算向整个公司传达目标和优先事项。
Motivation — achievable targets can motivate employees if linked to rewards. 激励——可实现的目标若与奖励挂钩，可以激励员工。
Performance evaluation — variances help appraise managers and departments. 绩效评估——差异有助于考核管理者与部门。

3. Key Types of Budget | 预算的主要类型

The sales budget is usually the starting point because it drives many other budgets. It shows expected sales revenue from forecast volume and price.

销售预算通常是编制起点，因为它驱动许多其他预算。它根据预测的销量和价格显示预期销售收入。

Sales budget — shows expected sales revenue from volume × price. 销售预算——显示销售量 × 价格带来的预期销售收入。
Production budget — states how many units must be produced to meet sales and inventory needs. 生产预算——说明为满足销售和库存需要必须生产多少单位。
Cost budget — estimates direct materials, direct labour and overheads. 成本预算——估计直接材料、直接人工和间接费用。
Cash budget — forecasts cash inflows and outflows, highlighting possible liquidity shortages. 现金预算——预测现金流入和流出，揭示可能的流动性短缺。
Profit budget — projects the budgeted income statement. 利润预算——预测预算利润表。
Capital expenditure budget — plans spending on fixed assets such as machinery. 资本支出预算——规划机器等固定资产的支出。

The production budget can be calculated using a simple formula:

生产预算可以用一个简单公式计算：

Production budget = Budgeted sales units + Desired closing inventory − Opening inventory

生产预算 = 预算销量 + 期望期末库存 − 期初库存

4. The Master Budget | 总预算

The master budget is the overall financial plan that combines all individual budgets into a coordinated set of financial statements. It usually contains a budgeted income statement and a budgeted statement of financial position.

总预算是将所有单项预算整合成一套协调一致的财务报表的总体财务计划。它通常包含预算利润表和预算财务状况表。

It ensures consistency. For example, the sales budget must match the production budget and the cash budget; if sales increase, the master budget reflects the additional costs and working capital needed.

它确保一致性。例如，销售预算必须与生产预算和现金预算相匹配；如果销售增加，总预算会反映所需的额外成本和营运资金。

The master budget allows senior managers to see the whole financial picture before committing resources. It is a key tool for strategic decision-making.

总预算使高级管理者能够在投入资源之前看到完整的财务图景。它是战略决策的关键工具。

5. Approaches to Budget Setting | 预算编制方法

The main methods used to set budgets are incremental budgeting, zero-based budgeting, flexible budgeting and rolling budgeting.

编制预算的主要方法包括增量预算、零基预算、弹性预算和滚动预算。

Incremental budgeting — previous budget adjusted by a percentage or for known changes. 增量预算——对上一期预算按百分比或已知变化进行调整。
Zero-based budgeting — each activity and cost is justified from zero. 零基预算——每项活动和成本都从零开始论证。
Flexible budgeting — budget figures adjusted to the actual level of activity. 弹性预算——根据实际活动水平调整预算数据。
Rolling budgeting — the budget is continuously updated, for example a 12-month budget extended each month or quarter. 滚动预算——预算持续更新，例如每月或每季度延长12个月的预算。

6. Incremental vs Zero-Based Budgeting | 增量预算与零基预算

Incremental budgeting is quick and easy but may perpetuate past inefficiencies. Zero-based budgeting challenges all costs, but it is time-consuming and can demotivate managers who must justify every item each year.

增量预算快捷、简单，但可能延续过去的低效。零基预算对所有成本提出质疑，但耗时长，并且可能让每年都需要论证每一项支出的管理者感到挫败。

Basis / 比较	Incremental budgeting / 增量预算	Zero-based budgeting / 零基预算
Starting point / 起点	Previous budget adjusted / 上年预算调整	Zero; every item justified / 从零开始；每项支出均需论证
Cost / 成本	Low; quick to prepare / 低；编制快	High; time-consuming / 高；耗时
Risk / 风险	May continue past inefficiencies / 可能延续过去的低效	Challenges all spending; may cause conflict / 质疑所有支出；可能引发冲突

7. Flexible Budgets and Variance Analysis | 弹性预算与差异分析

A flexible budget is adjusted to the actual level of output or activity. It allows a fair comparison between actual results and budgeted figures because both are based on the same volume.

弹性预算是根据实际产出或活动水平进行调整的预算。它使实际结果与预算数据之间能够进行公平比较，因为两者基于相同的业务量。

Variance analysis measures the difference between actual outcomes and budgeted figures. The basic formula is:

差异分析衡量实际结果与预算数据之间的差额。基本公式为：

Budget variance = Actual result − Budgeted result

预算差异 = 实际结果 − 预算结果

The sales volume variance can be calculated as:

销售数量差异可以计算为：

Sales volume variance = (Actual units − Budgeted units) × Standard contribution per unit

销售数量差异 =（实际销量 − 预算销量）× 单位标准贡献毛利

8. Favourable and Adverse Variances | 有利差异与不利差异

A favourable variance occurs when actual profit is higher than budgeted profit, or actual costs are lower than budgeted costs. An adverse variance occurs when actual profit is lower than budgeted profit, or actual costs are higher than budgeted costs.

当实际利润高于预算利润，或实际成本低于预算成本时，就会产生有利差异。当实际利润低于预算利润，或实际成本高于预算成本时，就会产生不利差异。

For example, if the actual selling price is higher than the budgeted price, the sales price variance is favourable. The formula is:

例如，如果实际售价高于预算价格，销售价格差异就是有利的。公式为：

Sales price variance = (Actual price − Budgeted price) × Actual units sold

销售价格差异 =（实际价格 − 预算价格）× 实际销售量

However, not all favourable variances are good. A favourable cost variance may be caused by cutting quality or delaying maintenance, which can damage long-term performance.

然而，并非所有有利差异都是好事。有利的成本差异可能是由降低质量或推迟维护造成的，这可能会损害长期绩效。

9. Budgets and Motivation | 预算与激励

Budgets can be motivating when targets are specific, challenging but achievable. If targets are too high, employees may give up; if too low, they may become complacent.

当目标具体、具有挑战性但又可以实现时，预算可以起到激励作用。如果目标过高，员工可能会放弃；如果目标过低，员工可能会安于现状。

Participative budgeting involves managers in setting their own budgets. This increases ownership and commitment, but it may also lead to easier targets.

参与式预算让管理者参与制定自己的预算。这会增强主人翁意识和承诺，但也可能导致目标设定得更容易。

Imposed budgets are set by senior management and passed down. They are quicker to prepare and align with central strategy, but may face resistance from lower-level managers.

强加式预算由高级管理层制定并向下传达。它们编制更快，并与中央战略保持一致，但可能遭到基层管理者的抵触。

10. Behavioural Implications and Budgetary Slack | 行为影响与预算松弛

Budgetary slack occurs when managers deliberately understate revenues or overstate costs so that targets are easier to achieve. This creates a cushion and weakens the

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Budgets (A Level) | 预算（A Level）