A Revisit to Zero Based Budgeting

Abstract

Zero based budgeting was a popular cost management tool in the early 1970s and currently it seems to be a lacklustre budgeting method. While this article does not attempt to hearken back to the yesteryears of popularity, this mini article endeavours to deliberate on the fundamental concepts of zero based budgeting and discusses on the benefits and drawbacks of implementing zero based budgeting in organisations. In addition, a brief recommendation on how zero based budgeting can be pragmatically useful is also touched on.