# Budget

> Budget — The plan for a period, line by line, approved before the period starts and held fixed while it runs, so actual results can be measured against it. Built on the same basis as the books — an accrual budget for accrual books — or every variance is partly a basis difference.

Source: https://lopifi.com/glossary/budget
Part of: Lopifi — US GAAP books on autopilot, checked by a CPA (https://lopifi.com)

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**What is budget?** In accounting, budget means the plan for a period, line by line, approved before the period starts and held fixed while it runs, so actual results can be measured against it. Built on the same basis as the books — an accrual budget for accrual books — or every variance is partly a basis difference.

## Also known as

- Operating budget

## Words this system refuses for it

- forecast (which is revised)
- target

- **Category:** Finance & planning
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)
- **Rendered by:** [budget-vs-actual](https://lopifi.com/md/components/budget-vs-actual)
- **Related:** variance, accrual, period, basis