what is the difference between zero based budgeting and activity based budgeting?
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Zero-based budgeting is based on justification given for each expense related to an activity. It does not lead to determining the potential profitability of the business. Whereas, activity based budgeting aligns the business activities with the goals. This helps to know the potential profitability.
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The key difference between a budget and a forecast is that a budget lays out the plan for what a business wants to achieve, while a forecast states its actual expectations for results, usually in a much more summarized format. In essence, a budget is a quantified expectation for what a business wants to achieve.
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Budgeting quantifies the expectation of revenues that a business wants to achieve for a future period, whereas financial forecasting estimates the amount of revenue or income that will be achieved in a future period.
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['The cost is more (or less) than budgeted. Budgets are prepared in advance and can only ever estimate income and expenditure. ... ', 'Planned activity did not occur when expected. ... ', 'Change in planned activity. ... ', 'Error/Omission.']
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The main difference between the reducing balance and straight-line methods of depreciation is that while the reducing balance method charges depreciation as a percentage of an asset's book value, the straight-line method expenses the same amount each year.
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The biggest difference is is that the workflow acts as an automated to-do list, capable of sending out documents and emails, or reminding you to do so. Whereas the lifecycle displays what has already occurred.
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Activity-based costing identifies all of the specific overhead operations related to the manufacture of each product. A fundamental difference between traditional costing and ABC costing is that ABC methods expand the number of indirect cost pools that can be allocated to specific products. ...
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The difference between your startup and operating budget is like comparing apples to oranges. Your startup budget may include large one-time purchases. ... The operating budget is what your company needs for day-to-day business activities. By prioritizing your expenses you may be able to run a lean, but effective company.
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Absorption costing assigns costs to individual units, whereas activity-based costing focuses on company activities as a central cost and then attempts to assign indirect costs to units.
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What is the difference between method activity and event activity in WorkFlow ? A method activity is one that performs an action, such as creating or updating a task. An event activity is one that runs in response to an action occurring.
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What is the difference between a budget and a standard? A budget is a total amount, while a standard expresses only a unit amount. What is a standard cost? The amount management thinks that should be incurred to produce a good or service.
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So what's the difference? Activity is the art of doing many things. On the other hand, productivity is the art of doing the right things. Productivity is about doing the right things that move a particular goal forward.
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Product-based costing is a relatively simple form of allocating direct and indirect costs to individual units of product. Activity-based costing is a more intricate system that assigns costs to activity centers rather than the products produced by those activities.
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Resource planning is near term and resource based Unlike capacity planning where the focus is skills, resource planning shifts the focus to individual resources. And whereas capacity planning looks long term, resource planning normally looks no further than the next few months.
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The main difference between activity diagram and flowchart is that activity diagram is a UML behavior diagram that represents the workflow of stepwise activities of the system while flowchart is a graphical diagram that represents the sequence of steps to solve a problem.
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Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.
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The major difference between organizing and time management is that, in general, organizing deals with things and time management deals with activities that have a time dimension. Both are important. Time management in any environment, electronic or otherwise, involves working both efficiently and effectively.