Best Practice Tools & Techniques - Sample

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Technique: Budgeting practices

Definition: Budgeting Practices involve the estimation of an organisation's revenue and expenses over a specified period of time

Description: Budgeting practices involve planning the use of resources or expenditure in advance. Some commonly used budgeting practices include:
- Capital budgeting (or investment appraisal) for the justification of investment in buildings, plant, etc.
- Cash budgeting for estimating business cash inflows and outflows
- Zero Based budgeting where all expenditures are justified for each new period
- Project..

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