1,393
26
Essay, 2 pages (300 words)

Galaxy budgeting system

The galaxy budgeting system The galaxy budgeting system is an advanced system of budgeting for programs, which is pitched on the future predictions of the resource requirements for different programs, based on the history of the organization involved in budgeting (Dongsung, 92). The system operates on the basis of dividing the budget that is allocated to an enterprise into different programs, which are then subdivided into different activities, and the budget amounts allocated to such activities. The subsequent performance assessments are done on the program and their activities, which then give periodic results regarding the resource requirements and usage by the different activities of the programs, which are then used as the basis for predicting the future budget requirements for programs and their subsequent activities (Dongsung, 97). The future budget is then informed by a comparison of the different programs and their resource consumption forming the basis for allocating future resources to such programs. Thus, the galaxy budgeting system does not only assess funding on the basis of terms only, but also on the basis of program comparison. The differentiating factor between the galaxy budgeting system and the other budgeting systems is that, the galaxy budgeting system employs the history of an organization, to determine its future resource allocation, while basing the allocations on the previous information and accomplishments (Dongsung, 103). This means that programs that make greater accomplishments have a higher chance of being allocated even more resources, to enhance their further achievements. The advantage presented by the galaxy budgeting system is that; it safeguards against money wastage or confining of resources in the unproductive areas, since the system ensures the allocation of resources based on the productivity of the programs, thus steering the resource allocation in the right direction (Dongsung, 107).
Works Cited
Dongsung, Kong. ” Performance-Based Budgeting: The U. S. Experience.” Public Organization Review 5. 2 (2005): 91-107.

Thank's for Your Vote!
Galaxy budgeting system. Page 1
Galaxy budgeting system. Page 2
Galaxy budgeting system. Page 3

This work, titled "Galaxy budgeting system" was written and willingly shared by a fellow student. This sample can be utilized as a research and reference resource to aid in the writing of your own work. Any use of the work that does not include an appropriate citation is banned.

If you are the owner of this work and don’t want it to be published on AssignBuster, request its removal.

Request Removal
Cite this Essay

References

AssignBuster. (2022) 'Galaxy budgeting system'. 10 January.

Reference

AssignBuster. (2022, January 10). Galaxy budgeting system. Retrieved from https://assignbuster.com/galaxy-budgeting-system/

References

AssignBuster. 2022. "Galaxy budgeting system." January 10, 2022. https://assignbuster.com/galaxy-budgeting-system/.

1. AssignBuster. "Galaxy budgeting system." January 10, 2022. https://assignbuster.com/galaxy-budgeting-system/.


Bibliography


AssignBuster. "Galaxy budgeting system." January 10, 2022. https://assignbuster.com/galaxy-budgeting-system/.

Work Cited

"Galaxy budgeting system." AssignBuster, 10 Jan. 2022, assignbuster.com/galaxy-budgeting-system/.

Get in Touch

Please, let us know if you have any ideas on improving Galaxy budgeting system, or our service. We will be happy to hear what you think: [email protected]