Budget analysis: involves examining and explaining the components of budget expenditure and revenue.
The use of budget indicators (ratios) can help to improve understanding of issues such as the level of implementation of expenditure and revenue budgets or the structure of the budget.
Budget Cycle or budget cycle refers to the steps or phases that a company or an individual or a government organization needs to go through to come up with a budget.
The budget is the estimation of the expenses that a company expects to incur in the future.
We can also say that the budget cycle is the life of the budget, starting from developing a budget to assessing it. Often businesses that make the budget go through these phases without even realizing they are following the budget cycle.