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Activity-Based Budgeting (ABB): The Smart Way to Reduce Costs and Boost Business Profitability
Activity-Based Budgeting (ABB) is a strategic approach to budgeting that focuses on identifying and funding the key activities that drive a company’s costs and operations. Instead of using last year’s budget as a base and adjusting for inflation or growth, ABB starts from scratch each time. It evaluates the actual activities required to achieve business…