November 2008
Beginner
448 pages
11h 33m
English
In one company we are familiar with, the Financial Planning Department issues guidelines to department managers. The manager then submits his or her plan to Financial Planning. The plan is returned to the manager if guidelines have not been adhered to. Financial Planning coordinates the plan from the bottom up. The budget goes down to the supervisory level. The company also uses program budgeting, which involves the allocation of resources. The budgeting process requires good, timely communication. Upper management must make its budget goals clear to departmental managers. In turn, the managers must explain departmental operating conditions and limitations.
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