Editor's Note
Some of us welcome year-end budgeting as a time to review,
reflect, assess, and lay out a plan for the future. Others
regard the process as onerous. Like it or not, the end of the
year approaches and budgeting is, or should be, part of the
process. Individuals as well as businesses should take this
time to examine the past and consider the future. The articles
presented today cover a wide spectrum of budget considerations,
including some budgetary cautions and some tips for making the
process a success.
Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
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Budget Shortfalls Hammering State and Local Governments, Nonprofits
As Congress and the Treasury Department struggle to stem the
damage of the economic crisis, state and local governments are
in their own world of hurt. Unlike the federal government,
state and local governments must balance their budgets every
year. Nonprofits, which bolster the needy with programs that
supplement government assistance, are feeling the pain too.
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Blog: Narrative Budgeting
If the budget is viewed as a pointless exercise inflicted on a
company by its accountants, then that is all it will remain. If
a budget is viewed as a plan, a blueprint for the future, then
that is what it will become.
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10 Reasons Why Budgets Cause Problems
Beyond Budget Round Table (BBRT), an independent international
research collaborative, recently produced a Web article arguing
that budgets tend to focus on targets based on incremental
changes from the previous period. "The result is a target that
is inwardly comfortable to you, yet appears outwardly difficult
to your superior. There is no focus on the maximization of
customer or shareholder value."
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Budgeting Basics - Part I - Establishing goals
Most people have a pretty good idea of how much they earn and
how much they spend, and if you ask how much people have in
their bank accounts, they can usually tell you. But few people
really know where they spend all of their money, and fewer
still have a method in place that allows them to keep track of
the amounts they expect to earn, spend, and save for the long-term.
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Budgeting trends help SMBs and SMEs thwart headaches
The two most common budgeting and forecasting headaches
experienced by CFOs and finance executives at small and
midsized businesses are gaining buy-in from other managers in
the company and using Microsoft Excel spreadsheets, according
to a recent study performed by Centage Corp. and the Institute
of Management & Administration (IOMA).
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