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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What is Zero Based Budgeting?
 Question Submitted By :: Kk
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is Zero Based Budgeting?
Answer
# 1
A method of budgeting in which all expenses must be
justified for each new period. Zero-based budgeting starts
from a "zero base" and every function within an
organization is analyzed for its needs and costs. Budgets
are then built around what is needed for the upcoming
period, regardless of whether the budget is higher or lower
than the previous one.
 
Is This Answer Correct ?    149 Yes 12 No
Kk
 
  Re: What is Zero Based Budgeting?
Answer
# 2
Based on every company it provides the expenditrue on every
individual, like it allocates some expenses on every
associate. If we see in the software companies many of
associates will be moving onsite to offshoore, if the
associate is not allocated to any where but still the
associate is salaried then it can be know a Zero Based
Budgeting.
 
Is This Answer Correct ?    17 Yes 49 No
Santosh
 
 
 
  Re: What is Zero Based Budgeting?
Answer
# 3
A method of budgeting whereby all activities are
reevaluated each time a budget is set. Discrete levels of
each activity are valued and a combination chosen to match
funds available
 
Is This Answer Correct ?    28 Yes 11 No
Vinotha.v
 
  Re: What is Zero Based Budgeting?
Answer
# 4
Zero based budgeting enforces to review the expenditure
periodically as the traditional budgeting system may not be
relevant in the era of high technological advancements with
very high levels of automation resulting in better
utiliation, higher production, better quality , longer life
of the spares ,all with less number of workmen. Hence the
ZBB exercise would bring out unwanted fats remaining
unnoticed to the fore and ensure the organisation stays
trim in this competitive business environment. But the
sucess or the failure would depend upon the cooperation
extended by all the functions of an organisation.
 
Is This Answer Correct ?    20 Yes 10 No
Kannan
 
  Re: What is Zero Based Budgeting?
Answer
# 5
zero based budgeting starts from 'scratch' where in each
unit of expenditure needs to be justified for its
existence/continuance for each financial year.Prior
existence of any scheme does not ensure continuance of the
same in the next financial year.In other words each scheme
begins from zero base level.
 
Is This Answer Correct ?    24 Yes 7 No
Devipriya Biswal
 
  Re: What is Zero Based Budgeting?
Answer
# 6
A method of budgeting in which all expenditures must be
justified each new period, as opposed to only explaining
the amounts requested in excess.
 
Is This Answer Correct ?    21 Yes 7 No
Vijay
 
  Re: What is Zero Based Budgeting?
Answer
# 7
Zero-based budgeting is a technique of planning and
decision-making which reverses the working process of
traditional budgeting. In traditional incremental
budgeting, departmental managers justify only increases
over the previous year budget and what has been already
spent is automatically sanctioned. No reference is made to
the previous level of expenditure. By contrast, in zero-
based budgeting, every department function is reviewed
comprehensively and all expenditures must be approved,
rather than only increases. Zero-based budgeting requires
the budget request be justified in complete detail by each
division manager starting from the zero-base. The zero-base
is indifferent to whether the total budget is increasing or
decreasing.
 
Is This Answer Correct ?    33 Yes 6 No
Ranadheer
 
  Re: What is Zero Based Budgeting?
Answer
# 8
zero base budgeting is a method of budgeting which requires
you to justify all planned expenditures for each of your
new business period
 
Is This Answer Correct ?    9 Yes 7 No
Nicky Wadehra
 
  Re: What is Zero Based Budgeting?
Answer
# 9
Justifing budgeted expenditure in the practice of perfomance to be acheived without reference to perexisting plans or achievement . ZBB rests on the philosophy that all spending need to be justified . each part of a company will start from a zero base each year and has to justify the budget it requires. top managment will only allow the budget when it convinced that the proposed activities represent ' value for money'.and all topics start with the zero point. 
Is This Answer Correct ?    5 Yes 8 No
Harshal M. Janbandhu
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
what is term loan?   4
Is Bank Reconciliation Statement is compulsory prepared? Even when both cash & Bank Book are tally? GE 12
What is mean by Forex accounting   2
Expand ________ECM   1
In Accounts payable process in BPO, how is the due date calculated? It should be Invoice date+ payment terms or Receipt date of invoice + payment terms? Accenture 2
freight inward expenses are direct expenses or not Dainik-Bhaskar 7
AS 2 deals with ICA 2
Who would NOT be considered "independent" in the context of an independent examiner?   1
Expand ________BCD   1
What is Balance Sheet? BPO 24
What is PBDIT? Goldman-Sachs 8
What is Suspense Account? EDS 1
 
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