Preceding-Year Basis

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Also found in: Acronyms.

Preceding-Year Basis

In budgeting and other estimates, the practice of using the previous year's numbers as guidance. For example, if a company's expenses from salaries were $2 million in 2009, it may estimate that they will be in the range of $2 million in 2010. However, one may make adjustments to account for changes from the previous year.
References in periodicals archive ?
An experienced PYB manager can, without fanfare, avoid all decision making and yet smartly, indirectly and with discreet timing, obtain credit for right decisions made by subordinates, colleagues or even superiors.
Throughout his profitable career, a good PYB manager can actually appear "strong" and tough as nails.
But if the results are positive, the credit can be easily identified with the tough PYB boss.
If the desired result is delivered, the PYB manager can easily claim personal recognition.
If bureaucracy means signing and authorizing a document that someone else has already signed, and a third person will subsequently sign, then it is not only OK, but it is the perfect breeding ground for PYB management and must be encouraged
When PYB management is widely spread throughout the company, the "fun" begins.
However, it is clear that PYB management does not include characteristics such as honesty or loyalty.
Also, it is relatively easy for an experienced PYB manager to pretend that a problem does not exist.
If a PYB manager is really forced to make a decision, he assures minimum controversy and documented proof that everyone (or almost) agreed on the decision.
The merger is conditioned on, among other requirements, approval by the shareholders of PYB.
The merger is conditioned on, among other requirements, receipt of a satisfactory fairness opinion by PYB and approval by the shareholders of PYB.