What is Master budget?
By Haresh Ratnagrahi, Founder, HiPrep (CPA, FCA, CMA (US), CISA, CRISC)
Definition
The overall plan that combines the sales, production, expense, cash and financial statement budgets for a period.
Where Master budget matters
CMA (US): The credential for management accounting and finance leadership. 2 Exam parts; 4 hrs Per part: 100 MCQs + 2 essays; 360 Passing score (0–500 scale); 3 yrs To complete both parts from your first. Parts: Part 1 Financial Planning, Performance and Analytics; Part 2 Strategic Financial Management.
Related terms explained
Budgeting: Turning plans into numbers: sales, production, costs and cash. A core CMA Part 1 topic.
CMA Part 1: Financial Planning, Performance and Analytics: planning and budgeting, performance management, cost management, internal controls and analytics.
How HiPrep teaches it
In HiPrep, Master budget is taught concept-first and then practised in a Prometric-style simulator. Every answer is built step by step so you see how a result is reached, explanations are available in English, Hindi, Tamil, Telugu and Kannada, and a mentor is behind the platform for doubts. Start with the free diagnostic to see where Master budget sits in your plan.