Just-in-Time Budgeting for a Volatile Economy

By: Material type: ArticleArticleLanguage: ENG Publication details: 2009 Number 0Edition: 3Description: 115-121 PpSubject(s): DDC classification:
  •  Akt
Online resources: Summary: The article discusses several techniques companies can use to speed up and make more effective the budgeting process. Scenario planning provides firms with the flexibility to adjust their cost structures or even switch to a different plan altogether should certain "triggering" events occur. Zero-based budgeting makes it easier for financial executives to allocate resources. Rolling forecasts give chief financial officers sufficient visibility to take corrective action when gaps emerge between forecasts and performance.
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Articles Articles Main Library Akt (Browse shelf(Opens below)) Available AR11277

The article discusses several techniques companies can use to speed up and make more effective the budgeting process. Scenario planning provides firms with the flexibility to adjust their cost structures or even switch to a different plan altogether should certain "triggering" events occur. Zero-based budgeting makes it easier for financial executives to allocate resources. Rolling forecasts give chief financial officers sufficient visibility to take corrective action when gaps emerge between forecasts and performance.

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