from the ground up (Investopedia, n.d.). If a business implemented zero-based budgeting, then it would be possible that some expenses would not be as close to the amount they were set for the year before. Although this may lengthen the amount of time needed to create the budget, it improves the efficiency of the organization. This happens because the strategic goals for each expense and income are not determined by history, but by projections of the business. The budget would then be set according to the latest findings. References Samuels, D. (n.d.). Differences Between Forecasting and Budgeting. Small Business Chronicle. Retrieved from http://smallbusiness.chron.com/differences-between-forecasting-budgeting-57667.html Sherman, F. (n.d.). What is the Relationship Between and Operating & a Cash Budget? eHow. Retrieved from http://www.ehow.com/info_7901466_relationship-between-operating-cash-budget.html Smith, A. (n.d.). Differences Between Forecasting & Budgeting. eHow. Retrieved from http://www.ehow.com/facts_4914113_differences-between-forecasting-budgeting.html Zero-Based Budgeting (n.d.). Investopedia. Retrieved http://www.investopedia.com/terms/z/zbb.asp#axzz2LsZkskWA
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