Advantages & Disadvantages of ZBB, ABB & Rolling Budgets

Assessment Criteria This assignment requires you to demonstrate your knowledge and understanding of the nature and purpose of traditional and alternative budgetary systems. Your answer for Part 1 of the assignment should focus on the role of budgets in the context of planning and control. Your answer must identify and explain traditional budgetary systems such as incremental budgets and, subsequently, discuss the advantages and disadvantages of traditional budgetary systems in the context of a modern business and this business in particular.

You should consider the differences between the environments in which businesses operate today compared to the period when traditional systems were developed. Your answer for Part 2 should focus on alternative budgetary systems which have evolved over time. You should therefore identify alternative systems such as ZBB, ABB and rolling budgets, and discuss how they work. Your answer should provide a breakdown of the advantages and disadvantages relating to each system identified. You should ensure that your answers make specific reference to the business under discussion, especially in topics ii) and v), which test your ability to apply your knowledge.

Advantages & Disadvantages of ZBB, ABB & Rolling Budgets

Note that, although you are not expected to show any specialist knowledge of the sector in which the company operates, credit will be given for evidence that you have considered what issues might be specific to this company in particular. High quality answers will consider the implications of the change of ownership from public to private sector. Page 4 of 6 Your answer must not be solely descriptive in nature; it should provide clear evidence of understanding, application and analysis of the issues under consideration. You should assume that your reader has some experience in finance and management but is uninformed on the particular topic; for instance, in i) you do not need to explain what a budget is, but you do need to show what its purpose is for this business. The answers to the questions should be supported by academic theories and concepts and the paper must comply with the academic report format and the Harvard referencing guidelines. Your work should be expressed clearly and fluently using a style of writing appropriate to the subject area. Sentences and paragraphs need to be relevant, well-structured and incorporate the correct terminology. Ideally, there should be no errors of spelling, punctuation or grammar. There is no correct number of academic references to be utilised as you must draw as many references as required to provide a high quality answer. However, a minimum of 8 academic sources are expected, and a majority of these should be current, internationally peer reviewed articles or journals, or accredited textbook references. Sources available only online should be avoided.

Advantages & Disadvantages of ZBB, ABB & Rolling Budgets

You must be mindful of how marks are allocated based on your knowledge and comprehension and your ability to define, analyse and apply the key concepts. Specific Module Guidance To achieve a pass mark you must ensure that you correctly identify and explain the underlying concepts and theories relevant to the assignment. To achieve higher marks, in addition to the requirements to achieve a pass mark, you will need to display application of knowledge and analytical skills. Page 5 of 6 Answer outline Answers should follow the order of the tasks set out above and the word count allocation to each section should broadly reflect the spread of marks. Marking guide 0%-29%  Negligible understanding of the subject  The point of the exercise has been missed  Inability to communicate basic understanding.  The work is lacking in any organisation  Negligible application  Negligible analysis  Negligible or inappropriate use of source materials  Excessive reliance on source materials which add little or no value  Little or no understanding of Harvard referencing  Grammar and vocabulary errors make comprehension difficult/impossible 30-39%  The overall message is hard to follow or may lack focus.  The point of the exercise has been missed  Ideas are not developed beyond basic restatements.  The work is lacking in organisation  Limited application  Limited analysis  Use of source materials is extremely limited  Excessive use of direct quotations  Weak understanding of Harvard referencing  Grammar and vocabulary errors make comprehension difficult 40-49%  The overall message is poorly developed or may deviate significantly  Ideas are poorly developed with little analysis 

Advantages & Disadvantages of ZBB, ABB & Rolling Budgets

The organisation of paragraphs or sections does not help the reader’s understanding  Basic application  Basic analysis  Use of source materials is limited or excessive use of direct quotations  Poor understanding of Harvard referencing; inconsistencies and errors  Grammar and vocabulary errors cause strain to the reader 50-59%  The overall message can be followed but is not always clear or fluent  Ideas begin to develop but lack critical insight  The work is organised to a basic structure but may lack cohesion  Reasonable attempt to apply knowledge  Some reasonable analysis and sensible good conclusions  Adequate use of source material  Adequate use of Harvard referencing  Grammar and vocabulary errors exist but do not cause strain  Technical and academic vocabulary can be seen emerging 60-69%  The overall message is clear Page 6 of 6  Ideas begin to develop and critical analysis is applied  The work is well structured, which aids the reader’s comprehension  Thoughtful and appropriate application of knowledge  Intelligent analysis showing context and insight  Good use of source material and source analysis  Accurate use of Harvard referencing  No notable grammar errors, low-frequency vocabulary used effectively 

Advantages & Disadvantages of ZBB, ABB & Rolling Budgets

Technical and academic vocabulary is demonstrated 70%+  The overall message is lucid throughout and is clearly identifiable  Ideas are adeptly developed and argued  The structure of the work helps to deliver the overall point  Application of knowledge Illuminates and enhances understanding  Penetrating analysis showing detailed appreciation of context and implications for the business  Excellent use of numerous sources, which are analyzed  Flawless use of Harvard referencing  No grammar or punctuation