Handbook of Budgeting

Informationen zum Autor William Rea Lalli (New Rochelle, NY) is a certified public accountant in New York and was the founder and CFO of WillCo LLC, a premier provider of continuing professional education in the study of budgeting, planning, forecasting, corporate finance, auditing, accounting, and taxation. After a successful career in public accounting with the world's largest firm and AICPA, Mr. Lalli held progressively responsible executive positions with the world's largest conference organizers. He has been published many times by AICPA, and is on the Board of Advisors of The Journal of Corporate Accounting & Finance. Klappentext No other management tool provides the operational direction that a well-planned budget can. Now in a new edition, this book provides updated coverage on issues such as budgeting for exempt organizations and nonprofits in light of the IRS' newly issued Form 990; what manufacturing CFOs' budgeting needs are; current technology solutions; and updated information on value-based budgets. Controllers, budget directors, and CFOs will benefit from this practical "how-to" book's coverage, from the initial planning process to forecasting to specific industry budgets. Zusammenfassung No other management tool provides the operational direction that a well-planned budget can. Inhaltsverzeichnis Foreword xv Preface xvii Part One: Introduction to the Budgeting Process Chapter 1: Integrating the Balanced Scorecard for Improved Planning and Performance Management 3 Overview 3 Elements of a Balanced Scorecard 5 Use of Strategy Maps 11 Scorecard Cascading 12 Bringing It All Together 13 Integrating the Scorecard with Planning and Performance 14 Balanced Scorecard and Annual Planning 15 Continuous Strategic Management with the Scorecard 22 Summary 24 Chapter 2: Strategic Balanced Scorecard-Based Budgeting and Performance Management 25 Introduction: Why Most Companies Fail to Implement Their Strategies 25 Why a few Companies Produce Exceptional Results 26 Measure your Strategy with Balanced Scorecard 34 Balanced Scorecard-Based Budgets 37 Performance Management 38 Summary 39 Chapter 3: Budgeting and the Strategic Planning Process 41 Definition of Strategic Planning 41 Planning Cycle 42 Strategic Planning Process: A Dynamic Cycle 44 Situation Analysis 46 Business Direction/Concept 58 Alternative Approaches 61 Operational Plan 62 Measurement 66 Feedback 66 Contingency Planning 68 Problems in Implementing Formal Strategic Planning Systems 69 Summary 70 Chapter 4: Budgeting and Forecasting: Process Tweak or Process Overhaul? 71 Introduction 71 Survey Methodology 72 Findings: Budgeting Process 72 Findings: Forecasting Process 86 Report Summary 89 Developing a Road Map for Change 90 Chapter 5: The Budget: An Integral Element of Internal Control 93 Introduction 93 The Control Environment 94 Planning Systems 96 Reporting Systems 98 Summary 102 Chapter 6: Relationship Between Strategic Planning and the Budgeting Process 103 Introduction 103 How to Plan 103 The Audience for Whom the Plan Is Designed 104 Strategic Business Planning and Its Role in Budgeting 105 Planning Differences among Small, Medium, and Large Organizations 106 Components of Strategic Planning 107 Management and Organization 108 Market Analysis 110 Formulation of Marketing Strategies 111 Operations Analysis 112 Summary 114 Chapter 7: The Essentials of Business Valuation 115 Introduction 115 Understanding the Valuation Assignment 117 Research a...

List of contents

Foreword xv
 
Preface xvii
 
PART ONE: INTRODUCTION TO THE BUDGETING PROCESS
 
Chapter 1: Integrating The Balanced Scorecard for Improved Planning and Performance Management 3
 
Chapter 2: Strategic Balanced Scorecard-Based Budgeting and Performance Management 25
 
Chapter 3: Budgeting and the Strategic Planning Process 41
 
Chapter 4: Budgeting and Forecasting: Process Tweak or Process Overhaul? 71
 
Chapter 5: The Budget: An Integral Element of Internal Control 93
 
Chapter 6: Relationship Between Strategic Planning and the Budgeting Process 103
 
Chapter 7: The Essentials of Business Valuation 115
 
Chapter 8: Moving Beyond Budgeting: Integrating Continuous Planning and Adaptive Control 145
 
Chapter 9: Moving Beyond Budgeting: An Update 161
 
PART TWO: TOOLS AND TECHNIQUES
 
Chapter 10: Implementing Forecasting Best Practices 169
 
Chapter 11: Calculations and Modeling in Budgeting Software 181
 
Chapter 12: Cost-Accounting Systems: Integration with Manufacturing Budgeting 193
 
Chapter 13: Break-Even and Contribution Analysis as a Tool in Budgeting 249
 
Chapter 14: Profitability and the Cost of Capital 263
 
Chapter 15: Budgeting Shareholder Value 279
 
Chapter 16: Applying the Budget System 297
 
Chapter 17: Budgets and Performance Compensation 307
 
Chapter 18: Predictive Costing, Predictive Accounting 329
 
Chapter 19: Cost Behavior and the Relationship to the Budgeting Process 357
 
PART THREE: PREPARATION OF SPECIFIC BUDGETS
 
Chapter 20: Sales and Marketing Budget 379
 
Chapter 21: Manufacturing Budget 395
 
Chapter 22: Research and Development Budget 455
 
Chapter 23: Administrative-Expense Budget 493
 
Chapter 24: Budgeting the Purchasing Department and the Purchasing Process 507
 
Chapter 25: Capital Investment Review: Toward a New Process 519
 
Chapter 26: Leasing 545
 
Chapter 27: Balance-Sheet Budget 581
 
Chapter 28: Budgeting Property and Liability Insurance Requirements 635
 
PART FOUR: BUDGETING APPLICATIONS
 
Chapter 29: Budgeting: Key to Corporate Performance Management 659
 
Chapter 30: Zero-Based Budgeting 677
 
Chapter 31: Bracket Budgeting 697
 
Chapter 32: Program Budgeting: Planning, Programming, Budgeting 723
 
Chapter 33: Activity-Based Budgeting 767
 
PART FIVE: INDUSTRY BUDGETS
 
Chapter 34: Budgeting For Corporate Taxes 793
 
Chapter 35: Budgeting in the Global Internet Communication Technology Industry 805
 
Index 825

Product details

• Authors: Lalli, William R Lalli, William R. Lalli, William Rea Lalli
• Assisted by: William R. Lalli (Editor), Lalli William R. (Editor), Willia R Lalli (Editor), William R Lalli (Editor)
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 20.02.2012
• EAN: 9780470920459
• ISBN: 978-0-470-92045-9
• No. of pages: 846
• Dimensions: 188 mm x 263 mm x 35 mm
• Series: Wiley Corporate F&A; Wiley Corporate F&A
• Subjects: Social sciences, law, business > Business > Business administration; Controlling, Rechnungswesen, Finanzplanung, Accounting, Corporate/Managerial Accounting, Wirtschaft / Management