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2. If old habits prevail, you must conduct a new Root Cause Analysis to
identify why the improved process failed. Then re-implement or re-plan
the improvements based on the identified cause.
3. In this process step, you study the effectiveness of the Improvements on the
Clarity and Accuracy of Budget Planning Information. Ensure that you
do not introduce negative side effects that create new IQ problems.
4. Study the impact to see if the Budget Planning Information meets the
needs of your internal Knowledge Workers and external Stakeholders.
Act to Standardize the Budget Planning Process Improvements
See TIQM Step P4.5 in Chapter 7. Once you have an effective Improvement for
posting income and expenses to the correct Budget Codes, get the process under
control with actions to standardize the Improvements and “hold the gains”
(keep Improvements “in control”) and roll the process out to all Business Areas
on an appropriate schedule.
Best Practices in Management Accounting
and Reporting Quality
Best practices from the Information Quality perspective for Budget and
Accounting information include:
Create and maintain Rigorous Financial Information
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Policies and
Procedures that are clear and executable.
Active and ongoing
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Governance that includes the Executive Leadership
Team to set strategy, standards and goals, including ...