Seminar paper from the year 2005 in the subject Business economics - Investment and Finance grade: 16 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.