Question

In a bottom-up approach, managers should have a ________ level of controllability and a ________ level of involvement in budget setting.

Answer 1

In a bottom-up approach, managers should have a high level of controllability and a high level of involvement in budget setting.

What is a bottom-up budget approach?

• Bottom-up budgeting is a method of creating budgets that begins at the departmental level and works its way up.
• Each department within the organization must create a list of the supplies it requires, the projects it intends to complete throughout the upcoming fiscal year, and cost projections.

What is top-down and bottom-up budgeting?

• Departments must create budgets in top-down planning while adhering to the limitations imposed by senior leadership.
• Departments produce their own budget estimates and submit them to top leadership in a bottom-up budget.
• The two strategies are the two types of budgeting that are most frequently used.

What is bottom-up approach in accounting?

• Bottom-up forecasting is a technique for predicting an organization's future performance by beginning with basic company information and moving "up" to revenue.
• This strategy begins with thorough customer or product data before expanding to revenue.

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