Zero-Based Budgeting
Can starting from scratch lead to better financial management?
Zero-based budgeting is a method where all expenses must be justified for each new period, starting from a "zero base." Unlike traditional budgeting, which adjusts previous budgets, zero-based budgeting requires detailed analysis and justification of every expense. This approach can uncover hidden costs and improve financial efficiency.
Implementing zero-based budgeting enhances cost control and accountability.
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