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What Is A Bubgetary System? Essay

744 words - 3 pages

A budgetary system is a system that an organization uses for preparing budgets and budget monitoring reports for the purpose of budgetary control. These include systems such as; Bottom-up budgeting, Activity based budgeting, Zero based Budgeting, Increamental budgeting etc.

UCC uses a system of activity-based budgeting where departments identify activities that contribute to the achievement of the overall strategic objectives and each activity is then treated as a cost centre for the purpose of budgeting.

Bottom-up budgeting
In organizations where bottom-up budgeting is used, budgeting starts at the lowest level in the management hierarchy such as at work section level or departmental unit ...view middle of the document...

The focus is on the nature of spending but not the purpose for which the expenditure is to be incurred. Each budget line item is identified and listed in the budget. Examples of such line items may be Accommodation, per diem, employees, premises, transport, establishment, financial charges etc. The budget amounts for the following year are then established on an incremental basis.
Rolling budgets
Under the rolling budget approach, a budget is kept continuously up to date by adding another accounting period (e.g. month or quarter) when the earliest accounting period has expired. Rolling budgets are considered suitable if accurate forecasts cannot be made like in a fast moving environment, or for businesses that needs tight control.
Zero base Budgeting
Zero-base budgeting is a cost benefit approach, Lucey (1994) that requires budget estimates to start from zero and every budget estimate justified in order to be included. Managers are required to justify the existence of the cost item and the benefit the expenditure brings to the organization. Each year’s budget is compiled as if the programmes were being launched for the first time. ZBB are prepared without reference to the budget of the preceding period, Appiah-Mensah (1993).

Activity Based Budgeting
According to, ABB is “a method of budgeting...

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