How to make sense out of your budget and drive the decision making process
By Alan Hart, MBA
You and your team have worked hard on putting together your company’s annual budget. You went through several iterations, were able to consolidate the various budget components, got approval and released the final budget book for the upcoming year. Now what?
You know that you need to monitor your company’s financial performance against the approved budget. You also know that you should periodically make changes to the forecast, and certainly use the analysis results to drive your company’s decision-making process. In other words, be able to timely and consistently provide management with the data they need in order for them to make important decisions. Continue reading You finished your budget preparation – Now what?