budgeting


Also found in: Dictionary, Thesaurus, Legal, Idioms, Encyclopedia.

budgeting

the process of preparing BUDGETS and exercising BUDGETARY CONTROL. Budgeting encourages forward thinking by managers; serves to help coordinate different functions and departments in the firm; defines the responsibilities of individual managers; provides a framework for delegating responsibility; and provides incentives by setting standards of achievement. Budgeting also provides an instrument for control by pointing out where corrective action is required and a basis for modifying plans where necessary Finally budgeting enables managers to practise MANAGEMENT BY EXCEPTION concentrating only on important deviations from plans.
References in periodicals archive ?
E[acute accent]- The basic concepts of budget and budgeting
The need for performance-based budgeting capabilities is becoming a critical issue for organizations.
The new version of Budget Maestro provides mid-market companies a migration path to a single solution for all their performance management needs from planning, budgeting and forecasting to management of assets, inventory and debt.
Kugel asserts that the widespread use of spreadsheets in budgeting (64% of companies in this study) is the root cause of both the ineffectiveness and inefficiencies of the current budgeting and planning process.
Companies' budgeting processes are under greater scrutiny than ever before--but many companies still haven't been able to justify the investment in the high-end systems because of their initial and ongoing costs," said Rebecca Wettemann, vice president of research at Nucleus Research.
A great example of this commitment is the AREF product, which will help real estate companies address one of their biggest business challenges of budgeting and forecasting.
Ask any executive about budgeting and guaranteed their first complaint is time," said Anthony L.
It's a much different approach than that taken by typical corporate entities and requires a budgeting and planning process that goes well beyond the next quarter's earnings.
What we can learn about budgeting from trains and planes.
PPBE -- The Planning, Programming, Budgeting and Execution (PPBE) System; Structure of the Future Years Defense Program (FYDP); budget exhibits.