Types of Budgeting

Zero based budgeting

Fixed budgeting

Variable budgeting

Lump sum budgeting

Line item budgeting

Performance budgeting

Planning the Budget

Needs assessment

Phase 1: Exploration

Phase 2: Information gathering

Phase 3: Decision-making

Basic steps in the purchasing process

Request for quotation

Negotiation

Lower Cost Consumable Supplies

Requisition

Purchase Order

Receiving