†Business book readings:.
activation software applied, apologize for typos.
budgetary control is an increased skill.†
Managers need to use a mix of approaches in controlling budgets.† Information, early warning systems,
decisions, and monitoring.
- Understand the
figures.† Which figures.† Elements of the budget.
- Talk to your
- set up the
- Decide on the
appropriate intervals to monitor your budget.† Stay with what you plan.
variances.† Positive and negative
- Donít assume the
positive variances are a good thing.
- Tell the right
people.† Remember communication
is a two-way process.
- Act now. Justify your
assumptions.† Prepare a forecast.† Suggest corrective actions.
- Keep monitoring.† Monitoring as an ongoing process.
upwards, downwards, and across. Take action when you need to.† Keep the appropriate people informed. Verify
monitoring system for efficiency and accuracy.† Communicate well, plan your actions carefully.