As early as 1990, some organizations in countries like the USA and Australia implemented this new budgeting program to replace the old and known method of budgeting, the "line item budgeting." Activity based budgeting is a method of budgeting in which activities that incur costs in each function of an organization are established and relationships are defined between activities. Depending on what kind of business, this need not be very formal but, nonetheless, it is important that any forecast or budget is updated and reviewed continually. To this end, a company must be able to prepare weekly, monthly, quarterly and yearly figures in keeping an eye on future cash flow requirements as well as making sure that expectations will be met. Budgeting for Your Wedding You don't have to marry the Prince of Wales just to have that wedding you're dreaming of; although actually marrying the Prince of Wales is always part of every woman's wedding dream. The key is to (1) find the persons who could offer the services you are looking for in the least amount there is in the market and (2) learn to apportion your money properly, or in other words, learn to budget. Budgeting Money is Everyone's Business No matter who you are, it is very important to know exactly how much money you have left to live on and lean to manage your spending habits. For anyone and everyone, here are some tips in budgeting money. For everyone: In budgeting money, it is important to learn to get into good spending habits. After some period of time, participants become more comfortable with the process and work hard to improve the benefits of having one. There are different stages of the budgeting process: - plan - execute - review - report the ogranization's financing, investing and operating activities The planning stage Budgeting pertains especially to the planning stage. When someone tries to lose weight, the more they track what they are eating and how much they exercise, they better they do. The same goes for keeping a budget because it is very easy to eat something unconsciously as spending money unconsciously as well. Financial planners say people are often surprised to see where their money is really going each month.