These indexes are then used to find usage correlations between slang terms. The official Urban Dictionary API is used to show the hover-definitions. Note that this thesaurus is not in any way affiliated with Urban Dictionary. Urban Thesaurus finds slang words that are related to your search query. The word in the example sentence does not match the entry word. Add budget to one of your lists below, or create a new one. They have taken money from the reserves to make up that amount in the budget.

It would mean to use your budget wisely but it doesn’t mean the person is cheap. Every finance professional knows the importance of budgeting. A company can thrive or dive based on its ability to handle resources wisely. At first glance, one might dismiss it simply as a synonym for budgeting, but in reality the two represent very different ways of approaching your company’s financial welfare. Unfavorable variance is an accounting term that describes instances where actual costs are greater than the standard or expected costs. For instance, assuming production is cut, variable costs are also going to be lower.

What Is A Budget Variance?

It is the government’s job to decide what to do with tax money collected, or in other words, to determine the expenditure of public funds. In business, an expenditure implies an investment, something that will bring value over time. In response to problem of cost overruns on major projects, the UK Government set up a Major Projects Authority to provide project assurance to HM Treasury and other Government departments undertaking major projects. Project assurance is now also being used by private sector companies undertaking major projects. In IT projects , the traditional approach to try to control costs is the use of project management techniques, such as PRINCE2 – though the use of such techniques has not prevented cost overruns in all cases. A budget variance is a periodic measure used by governments, corporations, or individuals to quantify the difference between budgeted and actual figures for a particular accounting category. A favorable budget variance refers to positive variances or gains; an unfavorable budget variance describes negative variance, indicating losses or shortfalls.

The flexible budget thus allows for greater adaptability to changing circumstances and should result in less of a budget variance, both positive and negative. Variances may occur for internal or external reasons and include human error, poor expectations, and changing business or economic conditions. budgeted synonym Budget variances can occur broadly due to either controlled or uncontrollable factors. For instance, a poorly planned budget and labor costs are controllable factors. Uncontrollable factors are often external and arise from occurrences outside the company, such as a natural disaster.

Sales price variance is the difference between the price a business expects to sell its products or services for and what it actually sells them for. As an example, let’s say that a company’s sales werebudgetedto be $250,000 for the first quarter of the year. However, the company only generated $200,000 in sales because demand fell among consumers. A flexible budget allows for changes and updates to be made when assumptions used to devise the budget are altered. A static budget remains the same, however, even if the assumptions change.

What Is The Synonym Of Brisk?

Errors by the creators of the budget can occur when the budget is being compiled. There are a number of bookkeeping reasons for this, including faulty math, using the wrong assumptions, or relying on stale or bad data.

They attempt to make a distinction between the often conflated causes of construction cost underestimation and eventual cost overruns. Critical to their argument is the point of reference for measuring cost overruns. This leads to a wide range in the size of overruns reported in different studies. A cost overrun, retained earnings also known as a cost increase or budget overrun, involves unexpected incurred costs. When these costs are in excess of budgeted amounts due to an value engineering underestimation of the actual cost during budgeting, they are known by these terms. Expenditure is often used when people are talking about budgets.

• But you can’t describe a budget using a description of a person if you know what I mean.
• A synonym is a word or phrase that means exactly or nearly the same as another word or phrase in the same language.
• In other words, they can afford nice things , but they don’t have or want to spend a lot of money on over-the-top, high-end items.
• Construction Budgetmeans the fully-budgeted costs for the acquisition and construction of a given parcel of real property as reasonably determined by the Parent in good faith.
• Cost overrun is distinguished from cost escalation, which is an anticipated growth in a budgeted cost due to factors such as inflation.

A budget variance is an accounting term that describes instances where actual costs are either higher or lower than the standard or projected costs. Construction Budgetmeans, in the aggregate, the fully budgeted total cost to develop the property under construction, including the acquisition cost of land as reasonably determined by Borrower in good faith. Which makes it important that every bullet point in your resume includes a success verb, not just an active verb. Because you were there, something changed, something improved, something progressed. The final example is the most commonly used as it specifically describes the cost overruns exclusively whereas the other two describe the overrun as an aspect of the total expense. In any case care should be taken to accurately describe what is meant by the chosen percentage so as to avoid ambiguity. I know where you coming from with your intention of describing a budget.

There is still lots of work to be done to get this slang thesaurus to give consistently good results, but I think it’s at the stage where it could be useful to people, which is why I released it. As a result, you need to budget, time, money, energy, and space to making those dreams a reality. This price increase means that the bill is going to be much higher than we have budgeted for. More people are using home computers to help them plan and budget efficiently. More examples The school budget is going to be cut again this year.

How To Pronounce Budgeted?

Construction Budgetmeans a budget projecting the cost of the Project in accordance with the Approved Plans and reflecting Final Completion of the Project by the Developer by the Completion Deadline. Design Professional shall compare the estimate with the Construction Budget and bring any unusual cost items to the attention of University’s Designated Administrator. Construction Budgetmeans the fully-budgeted costs for the acquisition and construction of a given parcel of real property as reasonably determined by the Parent in good faith.

Budget variances occur because forecasters are unable to predict future costs and revenue with complete accuracy. Cost overruns are common in infrastructure, building, and technology projects. Budgeting is a detailed, comprehensive look at how management envisions the business will perform in terms of results, financial positioning and cash flows for a specific period of time. Budgets are typically updated once a year, though managers might take remedial steps along the way to bring actual results back on track with the projected budget. If the variances are considered material, they will be investigated to determine the cause. Then, management will be tasked to see if it can remedy the situation. The definition of material is subjective and different depending on the company and relative size of the variance.

What Is Another Word For On

However, if a material variance persists over an extended period of time, management likely needs to evaluate its budgeting process. Changing business conditions, including changes in the overall economy or global trade, can cause budget variances. There could be an increase in the cost of raw materials or a new competitor may have entered the market to create pricing pressure. Political and regulatory changes that were not accurately forecast are also included in this category. The major components of a master budget include income and expenses, overhead and production costs, and the monthly, annual, average and projection totals. Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help you work your way out of debt if you are currently in debt.

Under a flexible budget, this is reflected, and results can be evaluated at this lower level of production. Under a static budget, the original level of production stays the same, and the resulting variance is not as revealing. It is worth noting that most companies assets = liabilities + equity use a flexible budget for this very reason. A synonym is a word or phrase that means exactly or nearly the same as another word or phrase in the same language. Words that are synonyms are said to be synonymous, and the state of being a synonym is called synonymy.

Antonyms Of Budget

This paper seeks to reclassify megaprojects as chaotic systems that are nonlinear and therefore difficult to predict. Using cases of cost overruns in oil and gas megaprojects, this study makes strong argument that chaos theory can indeed be a silver bullet in finding solutions to the recurring problem of cost overruns in megaprojects. Recent works by Ahiaga-Dagbui and Smith suggests an alternative to what is traditionally seen as an overrun in the construction field.

Our thesaurus contains synonyms of re-budgeted in 13 different contexts. We have listed all the similar and related words for re-budgeted alphabetically. This is the American English definition of budget.View British English definition of budget. The results will include words and phrases from the general dictionary as well as entries from the collaborative one.

Connect and share knowledge within a single location that is structured and easy to search. Stack Exchange network consists of 178 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. The Urban Thesaurus was created by indexing millions of different slang terms which are defined on sites like Urban Dictionary.

The word synonym refers to a word that has the same meaning as another word, or a meaning that is very close to that of the other word. When you use synonyms, the meaning of your phrase does not change. Crossword-help.com – These synonyms and crossword puzzle are provided for information purposes only. Use of the service, including the dictionary of synonyms, is free and is provided for strictly personal use only. Many states face budget problems and have cut spending in areas including education. Similarly, if expenses were projected to be $200,000 for the period but were actually $250,000, there would be an unfavorable variance of $50,000, or 25%. Budget variances will also occur when the management team exceeds or underperforms expectations.

I am trying to come up with a word or words to describe someone’s financial situation that is not too low or too high. In other words, they can afford nice things , but they don’t have or want to spend a lot of money on over-the-top, high-end items.