A company budget is an official document that outlines the amount of money set aside for a particular purpose and how it should be allocated. It helps to plan ahead, monitor expenditure, and identify areas for savings. It’s important for businesses to create budgets in order to control costs, establish goals, and make sound financial decisions. Budgeting helps companies track their spending and ensure that resources are used effectively and efficiently. By mapping out how much money is available and how it will be used, organizations can become more financially responsible, remain competitive in their industry, and achieve greater success.