Archive for the Budgeting Category


Achieving Your Firm’s Strategic Vision — October 2016

This post concerns Strategy and Budgeting. Many successful firms owe a great deal of their success to the implementation of a sound strategic plan and achieving the related benchmarks and goals. While the CEO is responsible for the broader aspects of this effort such as vision, mission, and goals, the CFO can play an important […]

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Forecasting as a Planning Tool — July 2016

This post involves budgeting and forecasting. Virtually every well run business forecasts its Income Statement in one form or another and calls it a budget. However, savvy managements also forecast the Balance Sheet. This effort adds rigor to the forecasts of income and forces management to thoroughly evaluate its plans and question the underlying assumptions. […]

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Framing Expectations and Achieving Results — April 2016

This topic concerns budgeting. The budget is a financial expression of the firm’s operating plan. The operational managers must determine what is necessary for the organization to achieve its strategic goals, which are set by owners or executives. An effective budget will express the goals and required resources in target numbers and will show how […]

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Good Forecasts Make Good Planning – December 2014

This topic concerns budgeting. The budget is central to the company’s overall growth plan and acts as an essential management tool. In turn, the forecast is the key element of the budget. Consequently, good forecasting of expected revenues, expenses and cash needs keeps the company one step ahead of the many forces that affect demand […]

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Proactive Budgeting to Drive Planning – April 2014

This topic involves budgeting. As finance professionals become more involved in strategic duties, one area where they can be very helpful is budgeting and the use of forecasts (see our February 2014 piece on budgeting).  The increasing speed and complexity of business has reduced the typical process of annual budgets, quarterly forecasting, and monthly reporting to […]

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Rolling Forecasts: Rapidly Adjust to Market Realities – February 2014

The following addresses important concepts in Budgeting.  Traditional Budgeting arose as a means for companies to limit costs.  In today’s volatile business climate, many argue that it is a less useful tool.  Accordingly, some companies are moving towards a planning model that incorporates a rolling forecast rather than a static annual budget that is updated yearly in […]

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