Budgeting is the Essence of Good Management

			
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			              (Beyond) Budgeting > Forum > Budgeting is the Essence of Good Management
			            
			              Budgeting is the Essence of Good Management
Pedro Guedes Carvalho, Professor, Portugal, Member

25 years ago I ran a public school knowing I had a certain amount for 1 year. If there was some money left, I could use it the next year with the constraint I should use it just for investment. Actually the money was delivered monthly.

Today it is delivered in 4 trimesters, and the remaining money (if any) goes back to the central administration.
To me annual budget is a useful guideline for planning and a tool coming from basic economics: how much resources do we have to achieve our goals: the essence of good management. (...) Read more? Sign up for free
			            
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			                  			Annual Budgeting is a 'Must' for Any Organization

															C.L. Kappagomtula, Professor, Malaysia, Member

One must understand, that any traditional budgeting is only like a navigational aid, and helps in staying on course without going astray. 

All the weaknesses of traditional budgeting pointed out are the contraints, that one has to deftly / cleverly wade through to stay on course. Organizations surely needs to plan their financial flows through the 'tool' of a well forecasted, articulated, and planned budgeting processes.
			                  		
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	                            (Beyond) Budgeting
	                          
	                                Summary
	                                ForumWeaknesses of Traditional Budgeting
Budgeting Must Be Flexible and Auditable
Financial Measure / Budgeting is no Longer Dominant
Budgeting for Guidance, not for Control
'Beyond' Budgeting -- Call it Whatever, It's Necessary
Add Rolling Quarterly Forecasts to Traditional Budgeting Process
Budgeting Has Become the End Instead of a Tool to an End
Budgeting is the Essence of Good Management
Budgets Should Facilitate Communication, Collaboration, Cooperation, and Coordination
Can we Use Beyond Budgeting in Entrepreneurial Companies?
What is a Budget? Definition
Budgeting in Uncertain Business Climate
Budgeting Must Be Integrated in Strategic Process
Rolling Forecast in Beyond Budgeting
Why Budgeting and Sound Financial Practices are Crucial
Lump Sum Budgeting with a Cushion

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