Budget preparation-monitoring and evaluation , Managerial Accounting

Budget Preparation

The organization's budget is ready following the acceptance and sanction of the decision packages. Once the budget of organization has been accepted managers of the decision units will put in operation all approved decision packages throughout the next fiscal year.

Monitoring and Evaluation

The last major procedure of ZBB is monitoring and valuation. The procedures of planning, analysis, choice and budgeting of decision packages prepare the organization for operation throughout the next year. Though, what managers plan to occur in the next fiscal year might or may not take place. Adjustments might be necessary throughout the year in order to attain the decision package objectives. Also, there is a requirement to know whether or not the organization did accomplish what it set out to attain and what level of achievement was acquired. The monitoring and evaluation procedure of ZBB needs that the following be involved in the overall design and implementation of decision packages.

Posted Date: 12/7/2012 8:20:48 AM | Location : United States

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