LO 7.1What are the advantages and disadvantages of the bottom-up budgeting approach?

Business

1 answer:

geniusboy [140]3 years ago

4 0

Answer:

The following are the disadvantages and the advantages of bottom-up budgeting approach are as follows:

<u> Advantages of bottom-up budgeting approach:</u>

The bottom-up budgeting approach helps in making the decisions very quickly as compared to all other budgeting methods.
The main benefit of the bottom-up budgeting approach is that it helps in aligned the project goals in an organization by giving the specific direction.
It helps in understand the resources, needs, expenses and the cost of each department in an organization.

<u> Disadvantages of bottom-up budgeting approach:</u>

The bottom-up budgeting approach is complex as it sometimes cause misrepresent the budget figures in the given data.
In this budgeting method there is also a lack of context and also expertise.

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