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What is Budget Padding? Budget padding is the process of preparing a budget by overestimate the expense and underestimate the revenue. The management usually links their bonus with the company performance which is the net profit.
Budget padding means setting the budget at an efficiency below the potential of the business. It leads to an artificial decrease in revenue and an increase in expense.
It means inflating the amount in a budget so that any unexpected cost of the project can be recovered in the future while executing the projects. It is a method of artificially increasing the amount in expected project cost.
25 Ιαν 2019 · Padding the budget is a practice that some people use in business when submitting a budget for approval. It artificially inflates the proposed budget in order to give the project room to expand or to cover unexpected costs.
1 Ιαν 2019 · Based on the above definitions, "Budget Padding" is the practice of inflating proposed budget to either expand projects or cover unexpected costs that may arise from the e xecution of...
11 Ιουν 2024 · Padding your budget can help you weather unexpected expenses, seize opportunities, and avoid debt. However, it's important to do so strategically and intentionally, rather than haphazardly or recklessly.
Padding the budget is a practice that some people use in business when submitting a budget for approval. It artificially inflates the proposed budget in order to give the project room to expand or to cover unexpected costs.
