The Various Types Of Budgeting Process/Techniques/Systems (Part 1)

There are many budgeting models. We have the following:

• Traditional budgeting;
• Zero Based budgeting;
• Output Based budgeting;
• Incremental Budgeting;
• Formula based budgeting;
• Program budgeting;
• Responsibility Centered Budgeting
  

Moving forward,there have been some who advocated WITHOUT budgeting as budgeting takes too much time and utilized too much manpower hence forecasting is a better answer.

However whatever budgeting model it is to be successful,we must design it around our own unique culture.

In my next forthcoming articles,I shall explain some of the contemporary budgeting model.

• Budgeting Techniques/Systems:Zero-Based Budget/Budgeting Definition (Part 2)
• What is Activity based budgeting and briefly describe how it could bring improvements to the budgeting process of an organization
• Limitations Of Zero-based-budgeting system
• M&A Lessons Learned From Cisco Systems