This is an approach used in accountancy in which, instead of developing a new budget based on historical budgets through a percentage increase or decrease, each line in the budget has to be justified from a zero base. This reflects the fact that budgets can sometimes reflect historical priorities rather than current priorities. The aim is to force real thinking about what is or is not needed in future, regardless of past processes or expenses.
« Back to Glossary IndexBudgeting, Zero Based
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
