Analysis
The Increased Interest in Zero-Based Budgeting
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Zero-based budgeting is a detailed assessment of all expenses starting from a "zero base". Increasing in popularity it differs from traditional cost budgeting methods by not referring to previous period figures and by requiring managers to justify all expenditure, old and new. This style of budgeting is time-consuming, as all expenses must be analysed from scratch rather than given an incremental percentage increase or decrease depending on previous period analysis.

 

Pros and cons of Zero-based budgeting

One of the primary advantages of zero-based budgeting is the visibility...

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Practical Advise
Tips for Effective Dunning
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Many businesses, especially those in the initial stages of establishment, suffer a lot due to debts owned by clients. An occasional phone call or email to ask the customers to settle the debts may not be of much significance. For the best practice in reaching out to your clients to pay up, you should consider the following factors. 

 

Be Friendly

The goal of dunning is not to threaten your clients to pay up, but instead, remind them that their bill is overdue. You still want to retain your customer, and as a result, you should portray professionalism in your communication. A...

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