The Zero Based Budget: A Panacea for Challenge of Corruption in the Public Sector
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Description
Traditional budgeting process nornwlly starts with last year's budget. The new
budget is merely a change of last year's figures (upwards or downwards) zero
Based Budgeting (ZBB) in contrast, is founded on the concept that the need is to
consider relative values, rather than comparative cost. This is a process based
on organizational goals and the objectives are converting the company activities
into decision package and allocating resources based on priorities/cost by the
management. The ZBB gives insight to management in that area. What do our
overhead department produce, what should they produce and what the cost is.
We know that our transparency is zero, the management team of the country
should apply the used of zero based budgeting as .this will reduce fraud in the
system.
Keywords
H Social Sciences (General), HJ Public Finance