Learning Objectives: Define and explain the terms “profit planning” and “budgeting”. What is the difference between planning and control? What are the advantages and disadvantages of budgeting? Contents: Definition and Explanation of Profit Planning and Budgeting Difference Between Planning and Control Advantages and Disadvantages
budget period is depend upon the requirements and resources of your company .it is also the interval of time, usually 12 months, into which the project period is divided for budgetary and funding purposes.