Master Budget Master budget is a consolidated summary of all the functional budgets.
Master budget is a summary budget incorporatingits component functional budgets & which is finallyapproved, adopted and employed”-CIMA.
Master budget has two parts1.Operating Budget (budgeted profit & Loss account. Financial Budget (budgeted balance sheet Prepared by the budget director
or budget officer whileApproving by the Board of Directors after certain amendments & alteration.
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