Why traditional budgeting can't cope with re-forecasts

Kashflow logo

Many organisations want to streamline their budgeting process; some want to eliminate it completely. Regardless of what the endgame might be, producing more frequent re-forecasts is typically part of the solution. Richard Barrett of ALG offers some advice.

The word that inevitably crops up whenever more frequent re-forecasting is discussed is "rolling", and many organisations use some form of re-forecasting today. For the most part this is either budget contributors making rough estimates of revenues and expenses in the out years ("Budget Year +1", "Budget Year +2" etc), or a senior member of the finance team re-forecasting summary revenues and expenses for the months to go until year end, based on year-to-date variances against budget.

While this type...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

About AccountingWEB


Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.