Given the criticisms of budgeting, there are currently two practice-led approaches which are to improve budgeting or to abandon it (Seal et al, 2015).
Source (to refernece from): Seal, W., Rohde, C., Garrison, R. & Noreen, E. (2015). Management Accounting 5th Edition, McGraw-Hill
Critically discuss the criticisms of traditional budgeting and evaluate the two approaches. A good report is one that meets both the descriptive and reflective/critical requirements of the question and well support with relevant academic literatures, and where appropriate, real-life cases.
The total word limit for this assignment is 1,500 words excluding references and appendices, if any.