Long-Range Budget(redirected from Long Term Budgets)
A budget with a term usually longer than one year. A long-range budget involves more uncertainty than a short-term budget because, typically, market movements and the business cycle are more easily predictable in the short term. On the other hand, planning for the long-term is necessary in order to ensure sustainable profitability. Thus, while planning for the long term is necessary, one's plan must be flexible to account for the uncertainty inherent to it.