Published: December, 2021
Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. It provides a magnificent alternative that can strip or right-size expenditures that have no plausible justification for continued existence as the process of zero-based budgeting starts from a "zero base," and every function within an organization is analyzed for its needs and costs. The budgets are then built around what is needed for the upcoming period, regardless of whether each budget is higher or lower than the previous one.
Traditional budgeting calls for incremental increases over previous budgets, such as a 2% increase in spending, as opposed to a justification of both old and new expenses, as called for with zero-based budgeting.
Traditional budgeting also only analyzes only new expenditures, while ZBB starts from zero and calls for a justification of old, recurring expenses in addition to new expenditures. Zero-based budgeting aims to put the onus on managers to justify expenses and aims to drive value for an organization by optimizing costs and not just revenue.
In this CPE Webinar we will explore practical aspects of Zero Based Budgeting and will cover the following key topics:
This CPE webinar explores, discusses, and provides a budgeting solution framework that helps organizations explore Zero-Based Budgeting (ZBB) as a technique when they develop their Annual Financial Plan. There is a saying that states, “Give every dollar a job.” Said another way, every dollar should seek to contribute to the highest possible, risk-adjusted, organizational ROI.
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Founder & CEO, VITTPRO
Energetic, ambitious and Result-oriented professional, offering +15 years of extensive experience in Management, operations, Finance, Audit, Risk management, marketing and Customer experience.
Manish has hands-on experience in Monthly Reporting and Pnl Analysis, Budgeting and strategic planning.
Passionate for learning and development, thinking in innovative and non-traditional ways, Manish is your business partner for growth.
Manish is experienced with leading projects for change. He has led ERP implementation for 16 hotels in Htoo Group.
Manish is focused, display positive attitude and Topline growth approach towards business problems. He believes in efficiencies and lean management.
He is also on his Entrepreneurial journey and founded https://ehotelmanagementschool.com for sharing knowledge and experience via online classes and sessions. Startup also help small hotels and other startups with finance and management consulting.
Vittpro is professional accounting and finance company for helping small business manage their accounting and finance function with ease and gain insights from data.