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Seminar paper from the year 2005 in the subject Business economics - Investment and Finance, grade: 1,6, University of Wales, Newport,, language: English, abstract: This report will discuss the advantages and disadvantages of budgeting. It will demonstrate the effects of applied budgeting in today's enterprises. Alternatives to the traditional budgeting process will be given; consisting of "Better Budgeting" as an improvement of the system and "Beyond Budgeting" as a way of abolishing the whole process.