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Nairaland Forum / Nairaland / General / Politics / Zero-based Vs "Copied-based" Budgeting (668 Views)
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Zero-based Vs "Copied-based" Budgeting by OKKO(m): 9:56pm On Jan 17, 2016 |
FG Planning Zero-based Budget For 2016 – Osinbajo by wolesmile(m): 10:59am On Sep 16, 2015 Vice President, Yemi Osinbajo disclosed that the new system would be properly coordinated to ensure that it was policy- driven, especially the proposed social intervention policy of the president Mohammdu Buhari’s administration. Zero-based budgeting entails careful planning anchored on the needs and costs. It is different from the current Envelope Budgeting or traditionally incremental budgeting whereby the planning is based on existing income and expenditure as the deciding factor in national financial planning levels, which often incurs waste and assumes previous costs as constant. http://www.vanguardngr.com/2015/09/fg- planning-zero-based-budget-for-2016- osinbajo/ Buhari Copied Jonathan’s Budget – Soludo Jan 15, 2016. Former governor of the Central Bank of Nigeria (CBN), Charles Soludo has stated that the 2016 budget presented by President Muhammadu Buhari was almost the same as the one presented by his predecessor, Goodluck Jonathan. According to Soludo, the present budget was a carbon copy of the one by Jonathan’s government, adding that defeating old bad ideas could be better that initiating new ones. He said this while speaking at the 13th Daily Trust Dialogue in Abuja on Thursday. http://dailypost.ng/2016/01/14/buhari- copied-jonathans-budget-soludo According to Wikipedia, these are advantages and disadvantages of Zero-based budgeting: Zero-based budgeting requires that the budget request be re-evaluated thoroughly, starting from the zero-base; this involves preparation of a fresh budget every year without reference to the past. Advantages 1. Efficient allocation of resources, as it is based on needs and benefits rather than history. 2. Drives managers to find cost effective ways to improve operations. 3. Detects inflated budgets. 4. Increases staff motivation by providing greater initiative and responsibility in decision-making. 5. Increases communication and coordination within the organization. 6. Identifies and eliminates wasteful and obsolete operations. 7. Identifies opportunities for outsourcing. 8. Forces cost centers to identify their mission and their relationship to overall goals. 9. Facilitates more effective delegation of authority Zero-based budgeting helps in identifying areas of wasteful expenditure, and if desired, can also be used for suggesting alternative courses of action. Disadvantages 1. More time-consuming than incremental budgeting. 2. Justifying every line item can be problematic for departments with intangible outputs. 3. Requires specific training, due to increased complexity vs. incremental budgeting. 4. In a large organization, the amount of information backing up the budgeting process may be overwhelming. The big questions are: A. Why is APC always saying a thing and doing another (governance by deceit)? B. Why is VP- Osibanjo always not abreast with policies and happening in government (any time he makes a policy statement APC comes forth to deny him or it turns false or opposite)? |
Re: Zero-based Vs "Copied-based" Budgeting by sinhin(m): 9:58pm On Jan 17, 2016 |
Ok |
Re: Zero-based Vs "Copied-based" Budgeting by OKKO(m): 7:06am On Jan 18, 2016 |
sinhin:Ok...Scam |
(1) (Reply)
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