Question

What are the pros and cons of using the different types of budget systems? Which one do you prefer?

Answer 1

Answer: The pros of using the different types of budget systems the budgeting systems focus on the financial aspects that'll help keep people and businesses on track. Cons include the system having limited flexibilities that'll meet the changing needs.

Answer 2

Answer:

For example, Static budgeting:

The advantage is that they give tremendous focus on the financial aspect and help the business to be on track.

The disadvantage is that the system has limited flexibility to meet the changing needs of the business.