RE-EVALUATING the TRADITIONAL BUDGET

• Published in: Accountancy SA p. 18
• Main Author: Naudé, Pierre
• Format: Trade Publication Article
• Language: English
• Published: Johannesburg South African Institute of Chartered Accountants 01.06.2007
• Subjects: Budgeting; Budgets; Collaboration; Cost reduction; Forecasting; Guidelines; Innovations; Managers; Organizational change; Performance management; Strategic planning; South Africa

Research from Cranfield School of Management suggests that 80% of companies are unhappy with their current budgeting, forecasting and planning process, and financial managers have ranked the reform of their budgeting process as number one on their "to do" lists. There are a number of reaso...