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What are the advantages and disadvantages of incremental budgeting?
Some of the advantages of incremental budgeting are that this type of budgeting is easy and quick. Some disadvantages of incremental budgeting are that different methods for achieving the objective may not be considered and if the budget is not fully spent it can be reduced during the next period.
What is the difference between activity based budgeting and traditional budgeting?
The activity based budgeting will give a percentage of the budget to the sections that are the most used. Traditional just splits it all up evenly.
What are advantages of budgeting?
A budget gives you an idea of where you can spend or invest and how much. Working out estimates inline with available resources and the benchmark of the firm
What are the advantages and disadvantages of a budget?
Budgets can help you control spending and to gain a clear picture of your financial status. However, budgeting can take a lot of time, and errors can occur.
What are the disadvantages of Activity Based Budgeting?
Time consuming to set up - have to understand the activities that drives the budgetCostly - buying, implementing and maintaining an activity based systemManagers may be overwhelmed with information - may be demotivating, rather than looking at the bigger pictureMore effective methods such as, zero based budgeting and continuous budgeting
Advantages of bottom-up budgeting as applied to project management?
Bottom-up budgeting as applied to project management has advantages. It ensures the resources are getting to the people actually doing the work of the project.
What are the disadvantages of a line item budgeting system?
what are the advantages and disadvantages of line item budgeting
What are the advantages and disadvantages of incremental budgeting?
Some of the advantages of incremental budgeting are that this type of budgeting is easy and quick. Some disadvantages of incremental budgeting are that different methods for achieving the objective may not be considered and if the budget is not fully spent it can be reduced during the next period.
What is bottom end knocking?
Wear and tear in the crankcase and/or power train. Your car is talking to you about budgeting for an expensive repair coming up.
What is a bottom end knock?
Wear and tear in the crankcase and/or power train. Your car is talking to you about budgeting for an expensive repair coming up.
What are the disadvantages of a line item budget?
what are the advantages and disadvantages of line item budgeting
What are the advantages of planning programming budgeting systems?
When it comes to planning programming and budgeting systems, there is one major advantage over alternative methods. That is the ability to integrate long range planning, execution, and budgeting for any system.
What are the disadvantages and advantages of Planning Programming Budgeting System?
What are the disadvantages of ppbs
Three advantages of budgeting?
Using budgeting, you can plan what money you have and where it will be spent. You can moderate where money can be spent and can provide bonuses if things go particularly. Also budgeting can motivate staff as it can be used for assessing performance in a department and measuring there success.
Advantages of top-down budgeting as applied to project management?
Top-down budgeting works the opposite direction of bottom-up budgeting. Top-down budgeting begins by estimating the costs of higher level tasks, and then those estimates will constrain the estimates for costs of lower level tasks. So the entire process of coming up with a budget will begin with upper-level management and an overall estimate of the entire project. Then the overall budget is divided among the first level of tasks, and then the budget is divided among lower level tasks and then lower level tasks. This continues until funding has been given to all of the tasks necessary for a project.
Advantage and disadvantages of bottom top participative budgeting?
5 disadvantages of participative budgets
What is bottom-up budgeting?
Bottom-up budgeting, also called participatory budgeting, is a somewhat modern approach to planning the use of a company's financial resources. Reserved for somewhat larger organizations, it differs from top-down budgeting where the high level executives make all of the decisions. Participatory budgeting provides the opportunity for employees to be involved in setting their own goals and expectations for a given financial period. It gives them ownership of the decisions, motivating them to meet budgetary constraints that otherwise might seem unattainable or unrealistic if they were delivered by someone without as much understanding of their day-to-day operations. Along with this increased participation, bottom-up budgeting also helps to create a more accurate picture of how much each department needs in order to function effectively. Of course, adjustments may need to be made for new hirings, special projects, and equipment replacement, but these can be communicated directly to the departments themselves before a budget is finalized. The important thing to remember when constructing any budget, whether it is bottom-up, top-down, or a mixture of the two, is that it be taken seriously at all levels of the organization. Though a budget alone cannot guarantee the success of any particular business, it can certainly prevent failure in most cases.
