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Activity-based budgeting is a process of planning and controlling the expected activities for the organisation to derive a cost-effective budget that meets forecast workload and agreed strategic goals. An activity-based budget is a quantitative expression of the expected activities of the firm, reflecting management’s forecast of workload and financial and non-financial requirements to meet agreed strategic goals and planned changes to improve performance.
Key Elements of ABB
(i) Type of work/activity to be performed;
(ii) Quantity of work/activity to be performed; and
(ii) Cost of work/activity to be performed.
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