What is financial budget in SAP FIN-FSCM-TRM - Treasury and Risk Management?

SAP Term: financial budget

• Component: FIN-FSCM-TRM

• Component Name: Treasury and Risk Management

• Description: The planning of revenues and expenditures for specific periods.

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• Key Concepts: 
  Financial budgeting is a process used by organizations to plan and manage their financial resources. It involves setting goals, estimating costs, and forecasting revenues. In SAP, financial budgeting is part of the Treasury and Risk Management (TRM) component of the Financial Supply Chain Management (FSCM) module. 
  
  How to use it: 
  In SAP, financial budgeting is used to create a budget plan for an organization. This plan includes setting goals, estimating costs, and forecasting revenues. The budget plan can then be used to track actual performance against the budgeted amounts. The TRM component also provides tools for analyzing and reporting on the budget plan. 
  
  Tips & Tricks: 
  When creating a financial budget in SAP, it is important to consider the organization’s goals and objectives. This will help ensure that the budget plan is realistic and achievable. It is also important to review the budget plan regularly to ensure that it remains up-to-date and accurate. 
  
  Related Information: 
  The TRM component of SAP also provides tools for managing risk and liquidity. These tools can be used in conjunction with financial budgeting to help organizations manage their financial resources more effectively. Additionally, SAP provides a range of other modules that can be used in conjunction with TRM to provide a comprehensive view of an organization’s finances.