Chapter 6 Quickly read chapter 6 Some high points:
Budgets • Goals • Significant time devoted to budgeting • Many different names • Many different types
Time Horizon • One day to several years. • Typically have yearly budgets • Rolling budgets
Employee Behavior • Budgeting can cause specific employee behaviors. Will you allow your employees to “participate?” Are your targets reasonable?
Budgeting: approaches • Continuous improvement. • Zero-Based budgeting.