Abstract:
As most people know, a budget is a written plan for future action, expressed
in physical and financial quantities. Future planning is based on forecasts,
historical data, assumptions, and experience. However, nobody can accurately
predict the future with all its risks and uncertainties. Thus, as the user of
budgets, the farmer should bear in mind that budgets and the assumptions on
which they are based are continually subject to change. Therefore, budgets
should not be treated as rigid or fixed plans but rather as management aids.
