Manage Accountability --budget Assignment Example | Topics and Well Written Essays - 1250 words

Manage Accountability --budget - Assignment Example A budget is a forecast or an estimation of the expected income or revenue and a projection of the intended expenses and how these expenses will be funded. Budgeting is a process that not only lies with the financial department but with the whole management since it requires making decisions regarding the projects to be funded, the expenses to be cut down to reduce the cost and other decisions regarding capital investments, marketing and so forth. This purpose of this paper is to categorically prove why the decision to revert the budget from improvement of a local county highway to expand an interstate freeway, was a viable decision in line with management accountability and cost benefit application. The best procedure I will implement in an effort to analyze the utilization of those funds is the zero-based budgeting procedure. This system of budgeting requires that all departments in a firm to justify all allocations and expenses for each new period and not relying on past expenditure trend (Bhattacharrya, 2011). This system assumes that there is neither carrying forward of balances nor existence of current obligations. The requirement is that all activities in the period will be implemented on the basis of cost-benefit analysis, which advocates for a systematic resource allocation criteria. It is with no doubts that this system will suit this project. This is because this process comes as an alternate to the others and is fully funded. This means there would be no need at all to revisit the past expenditure plan. The system helps to identify areas that result to wasting resources and elimination. This is the common goal of every organization as a means of benefiting from cutting costs of unessential areas (Bhattacharrya, 2011). In a survey carried in 2009 of government Budget Transparency, found out that the misuse