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Expense budget planning is an important part of any budget. An expense budget is a list of forecasted expenses within a set amount of time. An expense budget could cover a quarter, an entire year or just a month.
Purpose. Costs or expenses are elements of your business that cut your profits, but these costs enable you to provide services or manufacture items. The crucial thing to consider is the kind and level of costs you should incur. The budgeting process enables you to identify and clarify your expenses.escription. A budget is an accounting or financial plan for the next period, which can be a month, quarter, year or even the duration of a project. A cost budget is a financial plan about your companyâs identified expenses for the next period.