The budget bane
Budgets can be the bane of any manager’s life. It always seems to be time to prepare next year’s budget, report on progress or attend a meeting on some aspect of budgeting. Yet if you put a structure in place and get on top of the budget process, it can be quite simple and – dare I suggest – a useful exercise for all concerned. I suppose mentioning that it might become a pleasure would be going too far.
This chapter is written from the assumption that you are preparing a budget as part of a larger, probably enterprise-wide budgeting exercise. If it happens that you are in charge of the overall budget process, just read the following from that perspective.
Budgets, right or wrong
Budgets are simply short-term financial plans. ...