What are the different methods of budget preparation?

Question added by Muhammad Fiaz , GROUP MANAGER ACCOUNTS, FINANCE AND TAX , SMPL Group of Companies
Date Posted: 2014/05/13

Upvote (2) Views (5) Followers (2) Answers (4) Report Question

by Amr Askar , Contracts Director , HASSAN ALLAM CONSTRUCTION, Egypt

To determine the budget you need to:

1st: obtaining the project estimation by any of the below methods:

- analogous estimation

- parametric estimation

- bottom up estimation (best method)

With using the cost aggregation for the all the items / activities components.

2nd: adding the contingency reserve to the above project estimation to obtain the cost baseline.

3rd: adding the management reserve to the above cost baseline to finally obtain the Cost Budget.

by Faisal Farooqi Farooqi , Senior Business partner & Financial Analyst , Tasnee

1. Zero Based Budgeting 2. Top down Budgeting3. Bottom up Budgeting and4. Activity based Budgeting

by Muhammad Fiaz , GROUP MANAGER ACCOUNTS, FINANCE AND TAX , SMPL Group of Companies

Fixed Budget

Veriable budget

Zero base budget

by Arwa Alharbi , Trained , Rajhi bank

and may also include these mothods

labor budget - sales budget- Production budget

Expense budget - Capital budget -Top down

Bottom upZero - based budgeting

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