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  Activity Based Budgeting

Introduction to Activity Based Budgeting

A budget is a statement that is expressed in monetary/quantitative/ both terms prepared prior to a specified period of time for the policy to be pursued throughout that period for the reason of achieving a specified objective. In other words, a budget is all the time prepared ahead of time, it can be expressed either in quantitative terms or monetary terms or both, it reflects the purpose to be accomplished during that period and therefore the policy to be followed throughout that period is put in the budget. Budget assists in planning for the future. It also assists in controlling as there is a constant comparison of actual along with budget. Any deviation among the two is identified for taking appropriate action.

The traditional budgeting is relies on traditional cost accounting that is on the source of allocation, apportionment and absorption of overheads in the products. Though, the Activity Based Budgeting is dissimilar from the traditional budgeting in the sense that it gives a strong link among the objectives of organization and objectives of a specific activity. In other words, it includes recognition of activities and separating them in value adding and non value adding activities. The non value adding activities are removed in due course of time. So activity Based Budgeting needs identification of activities of the organization, establishing the factors that cause costs, the cost drivers and then collecting the costs of the activities in cost pools. The following are the characteristics of Activity Based Budgeting:

Ø   It makes use of the activity analysis to relate costs to activities.

Ø   It identifies cost enhancement opportunities.

 There is a clear link among strategic objectives and planning and the tactical planning of the ABC process.

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