Why Budgeting and Sound Financial Practices are Crucial

(Beyond) Budgeting
Knowledge Center

 

Next Topic

(Beyond) Budgeting > Best Practices

Tim Jones, Consultant, United States
Folks, all you have to do is look at the US debt and look at the fact that we have lived "beyond our means" for sometime now. You can't continue to operate without a plan for your money! It gets you in trouble as a household or as a country! The US is $16 trillion in debt! Companies go bankrupt everyday because they operated on the assumption that a budget wouldn't work, was too time consuming, too much bureaucracy, etc. It's time that we have professors in our universities that have experience in the real world and quit hiring these "financial philosophers" who operate on "theory" and have no idea what it is like to operate within limits, meet a payroll, develop realistic five-, and ten-year plans, etc. We still have to operate according to sound business principles. Just because the airplane has been invented doesn't mean that gravity has somehow ceased to exist or apply to us! (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


  Isaac Asante, Financial Consultant, Ghana
 

Why Budgeting is Important

Every management tool has weaknesses. The point in (...)

  Sergey Baltin, Manager, Russian Federation
 

That's Simple - Its a Drug

I totally agree, but this is from the point of vie (...)

  Tim Jones, Consultant, United States
 

That's Simple - It's a Drug

@: you are right concerning politicians. You are c (...)

  Benjamin Ogudoro Nkemakolam, Financial Consultant, Nigeria
 

Budgeting Still Relevant

The relevance traditional budgeting depends on the (...)

  Dario Gragnani, Manager, Italy
 

Why Budgeting is Useful

Budgeting is useful. 'You cannot manage what you d (...)

  Andyson Mupeta, Student (MBA), Zambia
 

Budgeting is Still Useful

Traditional or not it, budgeting remains a helpful (...)

 
More on (Beyond) Budgeting
Summary
Forum
Budgeting Must Be Flexible and Auditable
Add Rolling Quarterly Forecasts to Traditional Budgeting Process
🔥Rolling Forecast in Beyond Budgeting
Best Practices
🥇Weaknesses of Traditional Budgeting
🥈Financial Measure / Budgeting is no Longer Dominant
🥉Budgeting for Guidance, not for Control
'Beyond' Budgeting -- Call it Whatever, It's Necessary
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
Why Budgeting and Sound Financial Practices are Crucial
Lump Sum Budgeting with a Cushion
Special Interest Group Leader

Are you an expert in (Beyond) Budgeting? Sign up for free


(Beyond) Budgeting
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.6 - Last updated: 28-10-2020. All names of their owners.