Activity Based Budgeting Implementation at ANZ Banking Group Report

This report examines the implementation of Activity Based Budgeting (ABB) at the ANZ Banking Group. It highlights the shift from traditional budgeting methods and the advantages ABB offers, such as improved accuracy and enhanced decision-making. The report discusses how ABB facilitates better resource allocation and supports strategic planning within the banking sector. It draws upon information from the ANZ Banking Group's website and annual reports, as well as secondary sources to illustrate the benefits of ABB. The report emphasizes the importance of ABB in a competitive financial environment and how it contributes to customer satisfaction. It concludes by acknowledging the ease of data collection due to the company's prominence and availability of resources, making it a valuable tool for financial analysis and planning.

Running head: MANAGEMENT ACCOUNTING
MANAGEMENT ACCOUNTING
Name of the Student
Name of the University
Author Note

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Reflective Journal
The company that I have selected in making this report is ANZ banking group and
how it uses the activity based budgeting is discussed here. I have taken the information from
various sources which is genuine and related to the ANZ banking group. The differences
between the traditional and activity based budgeting has been stated clearly in this report by
myself and the ways through which it helps the ANZ banking group is also being stated here.
The gathered information is from various sources which is related to the activity
based budgeting which is shown here. The majority of the information which I have taken
from the data collected to the ANZ banking group are revealed in the application of the
activity based budgeting that helped in the banking sector (Cokins and Dybvig 2018). The
ANZ banking group provides the facilities like investment services and stock broking. The
budgeting method which the ANZ banking group uses is related to the activity they executed.
On using this method, there is less use of records from the past and hence, the present
accounting method is far more beneficial in the long term and will produce more income
(Worthington 2006). One of the most vital objective that I have observed while going through
this report is that this budgeting category helps in the decision making process as well in any
organization linked to banking and is also useful in segregation of resources. In the higher
authorization of the banking association involves and take views from the employees during
decision making with respect to the organization (Paul and Kourouche 2008).
I have come across various phases in the banking sector hence, I believe that ANZ
banking group has preferred activity based budgeting to the traditional budgeting. When the
investigation was carried out on this Australian banking association, it is seen that there are a
lot more competitors than I expected, therefore it is very important for ANZ banking group to

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go on with resources that has been provided (Rodrigues 2016). Besides, it is beneficial to
look after the well-being of the customers with the facilities that ANZ banking group is
providing to the customers and I have also seen that the customers are delightful with the
services they are getting from the banking industry.
While preparing this report, I have not faced any complications while collecting the
data and the information, and just because it is one of the major leading companies it was
way more at-ease to have gotten the articles that has helped out while concluding the report
on how the implementation can be done upon the activity based budgeting. The information
which I have provided in this report is taken from the website of the ANZ banking group and
also from the annual report of the organization.
References
Cokins, G. and Dybvig, A., 2018. NEXT GENERATION BUDGETING: If you want more accurate
results from your budgeting process, it may be time to switch from traditional budgeting to
operational budgeting. Strategic Finance, 99(10), pp.38-46.
Rodrigues, R.M.T., 2016. Activity based budgeting: caso de estudo ADIRA, SA (Doctoral
dissertation).
Worthington, A.C., 2006. Predicting financial literacy in Australia.
Paul, S. and Kourouche, K., 2008. Regulatory policy and the efficiency of the banking sector in
Australia. Australian economic review, 41(3), pp.260-271.