Budget

Roles that need it

• FP&A Analyst
• Business Controller
• Commercial Finance Analyst
• Corporate Treasury Analyst
• PMO Analyst

Skills it belongs to

• Building and managing a budget
• Financial planning and forecasting
• Planning systems (Anaplan)

Related concepts

• Forecast (rolling forecast)A forecast is the latest estimate of results for the rest of the period, updated as actuals come in. A rolling forecast always looks a fixed number of months ahead, for example 12 or 18, and is often driven by volumes, prices and headcount assumptions.
• Variance analysisVariance analysis explains the difference between actual results and budget, forecast or prior period, splitting it into drivers such as price, volume and mix. Each variance is labelled favourable or adverse and backed by commentary for management.
• Management accounts (management reporting)Management accounts are internal financial reports, usually monthly, that show results by business line, product or region against budget and forecast, with commentary. IFRS 8 segment reporting is based on this internal view as reviewed by the chief operating decision maker.
• Cost allocationCost allocation assigns shared costs, such as IT, operations or head office, to the products, business lines or entities that use them, using drivers like headcount, transaction volumes or usage. It feeds product profitability, pricing and internal charging.

Sources

• Budgeting, ICAEW (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.