Patrick Garcia Budget approaches.docx - EFECTS OF BUDGET APPROACHES IN BUDGETING PROCESS Budgetary Approaches Patrick Garcia AJS/574 Finance and

Patrick Garcia Budget approaches.docx - EFECTS OF BUDGET...

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EFECTS OF BUDGET APPROACHES IN BUDGETING PROCESS Budgetary Approaches Patrick Garcia AJS/574: Finance and Budgeting 18 May 2019
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2 EFECTS OF BUDGET APPROACHES IN BUDGETING PROCESS Introduction Budget approaches refer to models of budgeting that are used in the translation of various policy decisions into plans of the financial aspect. However, there are several budget approaches that majorly have an impact, especially on the existing and upcoming or new programs. Most of the organizations of the government use various versions which are hybridized so as to address various specific needs. Most of the budgeting approaches usually have both positive and negative impact on the decision making especially in the upcoming new programs. They include the line- item budgeting, zero-based budgeting, performance budgeting, site-based budgeting, program and planning budgeting and outcome-focused budgeting. To begin with, line-item budgeting is one of the most widely used approaches in most of the organizations due to its simplicity and orientation control. It is also termed as a historical approach because the administrators and some chief executives, most of the times base their requests of historical expenditure on revenue data. However, this approach has an advantage in that there is flexibility in the established control of amount over the consumption of resources depending on the level detail of expenditure such as fund, object, and function which is incorporated in the document.
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