Answer to Question #78728 in Finance for Liam Johnston

Question

Briefly explain how you can use the concept of a budget calendar in describing reporting timelines

Answer 1

Budget calendar is a schedule of activities that must be completed in order to create and develop a budget. Budget planning calendars are necessary for the creation of complex budgets used by large organizations. These organizations must usually harvest a great deal of data from several departments, thus requiring a calendar to coordinate when the final numbers from each department are submitted.