Budgeting standards apply to individuals as well as state and local governments ( Kelly, 2015). How the administration gathers income and thus spends its assets directly affects the economies inside its ward. The extent of the government spending implies that its impact is felt on each edge of society. Notwithstanding, even at the government level, the interest for administrations far overwhelms the accessible incomes in any given fiscal year. Planning choices are made through the general population approach process. In that capacity, needs move as per the legislative issues existing apart from everything else and when occasions happen amid the spending cycle. To be a powerful framework, the monetary allowance must present data about the motivations behind the proposed action and assets to be used, and there are different ways to deal with building up this data that have an orientation on the planning methods utilized by open offices.
The line-item budget lists expenditures by allocations, which are easy to find ( Friis & Hansen, 2015). However, a simple analysis is inadequate when an individual is dealing with a complex data set. The performance budget focuses on work processes ( Berman, 2015). Its organization is around activities and programs that ensure work is articulated and performance is measured. However, this may not be used for allocated items. The program budget links budgeting and planning ( Berman, 2015 ). The design used aids in the provision of an objective way to analyze benefits and costs of alternatives. However, it may not be used on a personal basis to analyze outcomes. The outcome-based budget is one that is used to account for the process of making decisions ( Banaian & Nelson, 2014). As such, outcomes are measurable, and they entail all activities of the government. However, the success of measured on the return of investment, which may be inapplicable on the personal level.
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References
Banaian, K., & Nelson, P. J. (2014). Smart Budgeting for an Era of Limits . Center of The American Experiment.
Berman, L. (2015). The Office of Management and Budget and the presidency, 1921-1979 . Princeton University Press.
Friis, I., & Hansen, A. (2015). Line-item budgeting and film-production: Exploring some benefits of budget constraints on creativity. Qualitative Research in Accounting & Management , 12 (4), 321-345.
Kelly, J. M. (2015). Performance budgeting for state and local government . Me sharpe.
