Managerial strategies for financial planning

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Reference no: EM133643107

Question

Rewrite in different wordings " Top-down and bottom-up budgeting are two managerial strategies for financial planning. The top-down approach begins with setting an overall budget goal, then allocating funds to specific projects and activities in line with this goal. This strategy is often used in organizations with a clear hierarchy and top-level decision-makers who have a comprehensive understanding of the organization's overall strategy and how to execute it. Conversely, the bottom-up budgeting approach involves creating spending plans from the ground up, rather than from the top down. This method can help ensure that all departments or projects are adequately resourced to meet their goals."

Reference no: EM133643107

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