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
July 17, 2006
Tags: Budgeting Techniques;
Posted in: Budgeting, MANAGERIAL ACCOUNTING
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