Fundamentals of Zero Based Budgeting

Overview

Zero Based Budgeting (ZBB) is a strategic financial management approach that challenges the traditional method of budgeting. Throughout this course, participants will gain a comprehensive understanding of ZBB.

In this course on Zero Based Budgeting (ZBB), participants will explore the concept's significance in modern financial management practices. They will delve into the definition and core principles of ZBB, distinguishing it from traditional budgeting methods, while also understanding the key differences between the two approaches.

Through this course, participants will gain the knowledge and skills necessary to understand, implement, and transition to Zero Based Budgeting practices effectively, with a focus on optimising resources and achieving financial sustainability in any organisation.

What you will learn

• Understand the concept and significance of Zero Based Budgeting (ZBB) in financial management.
• Differentiate between ZBB and traditional budgeting methods.
• Identify the advantages and disadvantages of implementing ZBB.
• Explore real-world applications and scenarios where ZBB is commonly used.
• Learn the key steps involved in implementing ZBB effectively.
• Gain insights into the transition process from traditional budgeting to ZBB.
• Acquire practical skills for evaluating budget proposals and setting priorities.
• Apply ZBB principles to optimise resources and achieve financial sustainability, particularly in non-profit or charity organisations.

What you require

• This course is available to all learners, of all academic backgrounds.
• Learners should be aged 16 or over to undertake the qualification.
• Good understanding of English language, numeracy and ICT are required to attend this course.