Monthly Archives: December 2013

Routine Analysis of Actual Performance Against Established Budgets

Use the Right Tools and Techniques to Perform Real-time Periodic Analysis of Your Actuals vs. Budget Numbers

By Alan Hart, MBA

Many accounting and finance professionals know how important it is to continually monitor their organizations’ actual performance against their approved, and often revised, budget.  In reality, many are unable to perform this seemingly simple task or don’t do it often enough, or if they do it, the actual data is already dated.

In today’s fast paced accounting and finance environments, it is easy to neglect this important function, especially if it is not intuitive and easy to perform.  Like all professions, you need the right tools to perform the jobs they were designed to perform.  Budgeting, forecasting and analysis are no different. Continue reading Routine Analysis of Actual Performance Against Established Budgets

Automated Controls in Budgeting & Analysis Process

Now you can harness the power of IT automation year-round in your Budgeting & Forecasting Process

By Alan Hart, MBA

Even after many years of working in designing and implementing accounting and financial processes and internal control over financial reporting, I am still amazed at how much more reliable automated (IT) controls are over manual ones. Continue reading Automated Controls in Budgeting & Analysis Process

Generate Accurate Forecasted Financial Statements as your Budget

How a 500+-year-old Accounting Method is Automatically Employed to Create an Accurate set of Forecasted Financial Statements

By Alan Hart, MBA

In my post on how you can forecast your cash flow and all other balance sheet account balances, I was describing a breakthrough budgeting and forecasting technology, designed specifically to enable users to generate accurate forecasted financial statements, compiled from a forecast of their entire chart of accounts.  In this installment, I’m going to show you how it is done. Continue reading Generate Accurate Forecasted Financial Statements as your Budget