Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Personal Finance Forums
Money Saving
7 Major Types Of Budget You Should Know
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="kayode10, post: 323923, member: 26899"] Budgeting is a crucial aspect of financial management. It involves the process of creating a plan that outlines an organization's expected revenues and expenses for a given period. There are different 7 major types of budgeting that organizations can use to plan and manage their finances effectively. Below are the common types of budgeting and their explanations: 1. Incremental Budgeting: This type of budgeting involves adjusting the previous period's budget by a certain percentage to account for any changes in the organization's activities. It is a simple and quick method but may not adequately account for new activities or changes in the external environment. 2. Zero-based Budgeting: In this type of budgeting, the organization starts the budgeting process from scratch, and each activity or expense must be justified based on its relevance to the organization's goals. It is time-consuming but ensures that resources are allocated effectively. 3. Activity-based Budgeting: This type of budgeting focuses on the activities that generate revenue or incur costs in the organization. It involves identifying the activities and allocating resources based on their importance to the organization. 4. Rolling Budgeting: Rolling budgeting is a continuous process that involves creating a budget for a fixed period, then updating it regularly as new information becomes available. It is flexible and allows the organization to adjust its plans as needed. 5. Capital Budgeting: This type of budgeting is used to plan for long-term investments, such as new equipment or facilities. It involves estimating the costs and benefits of the investment and determining whether it is financially viable. 6 Performance Budgeting: Performance budgeting focuses on the outcomes of the organization's activities rather than the inputs. It involves setting goals, measuring performance, and allocating resources based on the effectiveness of the activities. 7. Cash Budgeting: Cash budgeting focuses on the organization's cash flows, including cash inflows and outflows. It helps the organization to manage its cash effectively, ensuring that it has sufficient cash to meet its obligations. In conclusion, there are different types of budgeting that organizations can use to plan and manage their finances effectively. The choice of budgeting type depends on the organization's needs, goals, and resources. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Personal Finance Forums
Money Saving
7 Major Types Of Budget You Should Know
Top