Budget planning 

As defined in the Oxford Dictionary of Accounting, the budget is "

a financial or quantitative statement, prepared prior to a specific accounting period containing the plans and policies to be pursued during that period. It is used as the basis for budgetary control. Generally, a functional budget is drawn up for each functional area within an organization.

"

The budget planning function has been developed since previous versions of Microsoft Dynamics 365 for Finance and Operations. It covers the planning activities, including scenarios, stages, budget planning security options, and budget planning workflow and its stages in addition to Excel/Word templates. The following diagram illustrates the budget planning elements that will be covered in this section:

Budget plan scenarios represent the the different scenarios of budget planning and identify the units of measure for each record. The commonly used units of measure for budget planning are Monetary and Quantity. To create...