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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.
Expenses are center stage in daily operations, budgeting, planning, and financial reporting. The broader definition also covers non cash expenses, such as depreciation or bad debt. However, every expense eventâcash or non cashâcalls for an impact on an expense category account.