This website uses cookies to ensure you have the best experience. Learn more

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 investopedia.com, ABB is “a method of budgeting...

Find Another Essay On What is a Bubgetary System?

What Is A Constitution Essay

301 words - 2 pages What is a Constitution? The word constitution was originated from ancient Greek times. The Greek word for constitution, politeia, means any form of government or regime as it functions in its entirety.The ancient Greeks believed that a constitution was a cultural phenomenon. They also believed that it was a formal expression of the way people do politics and the appropriate public attitudes that support a particular form of government

What Is A Man? Essay

1126 words - 5 pages proud of who you are. The actions that we choose to make are what determines what kind of a person we become. In life, we all make mistakes, and at times, the consequences may be harsher than we would expect. However, it is what you do when you get to that point where you are stripped of everything you have, and know you cannot fight the system you're living in, that truly matters. When you have nothing left, and still keep your dignity and sacrifice yourself to shape a better community; that is when the hero inside you truly shines.

What is a Civilization?

1037 words - 4 pages What is a civilization? This is a big question that some experts still debate it to find the best definition, especially between archeologists who have a definition of civilization for earlier civilization and anthropologist whose definition concern about recent civilization. However, both early and late civilization has many evidences that proof many steps of process in formating a civilization. Surprisedly, some research has found the

What is a Huricane?

1302 words - 6 pages In this paper I will talk about what is a hurricane. How they are formed. What time of the year they happen. Inform the reader on the different categories that a hurricane have. Also I will inform about the major hurricanes that happened in the United States. A hurricane or a tropical cyclone is an intense, rotating oceanic weather system that possesses maximum sustained winds exceeding 119 km/hr (74 mph). It forms and intensifies over tropical

What is a State?

2298 words - 9 pages Euro, a unified currency. Many states throughout the global have been able to engage in peaceful economic agreements and treaties. What makes the global community was wonderful and effective is the different cultures and mindset being used in combination to find the most creative and effect method of international relations. Without nationalism every state would eventual look and function the same and there would no longer be any competitive push to be better or to improve.

What is a Microphone?

3602 words - 14 pages 1990). A collector of sound is basically what a microphone is. A problem can happen because of the acoustical energy in the voices of people and instruments start and stop. (Clifford 1992). The basic part is the diaphragm that responds to pressure or the particle velocity of the sound waves. Microphone the term came around about 1827 in a description by Wheatstone’s about an acoustic device. (Borwick 1990) The person who invented the workable

What Is A Counsellor?

944 words - 4 pages What is a Counsellor? Introduction After reading, viewing, thinking and talking over this question, I came up with the following two informal attempts at defining what a counsellor is.1. A counsellor is someone who (by agreement) helps another in the process of sorting out a problem. To put it another way, counselling is an interaction between two people where a person who is trying to sort something out, uses the help of another.2. A counsellor

What is a Revolution?

614 words - 2 pages Revolutions in general involve some form of change. They usually involve sudden events and have significant and broad effects on the society in which the revolution is taking place. Unlike a rebellion or insurrection, which is similar to a rebellion but is less organised in offensive and political tactics, a revolution is generally successful in overthrowing the government and/or ruling system. There are three different types of revolutions

What is a Portrait

913 words - 4 pages What is a portrait? Portraits are one of most common forms of photography. However, “what is a portrait?” is such a vague question because a portrait could be defined as many things. An official dictionary definition of the word describes a portrait as “a painting, drawing, photograph, or engraving of a person, especially one depicting only the face or head and shoulders (Merriam Webster).” The photographer’s aim is to give prominence to the

What Is A Hero?

667 words - 3 pages What is a Hero? In today's world the news media throw the word around like it is an everyday word. So what exactly is a hero? Who or can be classified as a heroic? The correct definition of a hero is: One invested with heroic qualities in the opinion of others. That definition is for books and intellectual minds, but to an average person like me a hero is much more than just that. First, to understand what a hero is, we must find

What is a Phobia?

1011 words - 5 pages There are many, many different phobias in the world. Some ranging from claustrophobia, the fear of enclosed spaces, to agoraphobia, the fear of open spaces, however these little “fears” control these people’s lives. What we look at as just a normal day, they wake up worrying about ways to cope with this obsession. What causes phobias? What is a phobia? And how do we cure them? What is a phobia? A phobia is classified as a

Similar Essays

What Is A Belief System? Essay

1411 words - 6 pages Workshop One Individual What is a Belief System? Paper (due Week One)Write a 1050-1400 word paper that defines the elements of your religious belief system. Include a brief discussion of each of the following topics:a. How your beliefs make up a religious belief system.b. How you acquired your religious belief system.c. The benefits and disadvantages of having your particular belief system.d. The role of tradition in your religious belief

What Is A Home Theater System

1930 words - 8 pages Chapter 1 – What is a Home Theater System? Before the 1950s even though television was in existence, the average models for home use were not able to create the type of entertainment experience that one would get when going to the movie theater. In fact, even when home theater systems did start becoming available, they were not via television. Instead, they were through projector equipment. Of course back then the technology was only limited

What Is Political System? Essay

852 words - 4 pages The definition of the term “Political Systems” is considered one of the most complexed things, due to the difficulty of reaching a precise definition of the political system, which is because of the ambiguity and the remote of classification that is raised for this political term. The phrase “political systems” is a language of two words, namely: (systems) and (politics). The system is to arrange things in a particular manner, to achieve a

What Is A Distribution Channel? What Are Conventional Distribution Channel And Vertical Marketing System? Compare Them

1441 words - 6 pages members has no formal authority over each other. Moreover, in a conventional distribution channel, many conflicts may occur since there is the absence of a formal contract and also in most cases, their goals and aims differ. Another weakness of a conventional distribution system is that each and every member tries to reap a lot of profits in order to pursue their own corporate objectives. This may cause drawbacks for the system as each