Rolling Forecasts Replace Budget
Thursday, December 21, 2017
Almost every organization realizes time and cost of budgeting is not worth the benefit. Some organizations find their budget out of date even before the year starts and most find it out-of-date by mid-year. Budgets are the 'bane of business...they are minimization exercises' per Jack Welch, form CEO of General Electric. Budgets: focus the organization backward through analysis hope to find out what went wrong are obsolete long before year end assume the world works in 4 quarters So what should an organization do to change the focus forward in this rapidly changing world?
*What are problems with current Budgeting Process?
*What are advantages of Rolling Forecasts?
*How do you create a Rolling Forecast?
*How does compensation change in a Rolling Forecast environment? *How does Leadership and Accounting Change in a Rolling Forecast environment?