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You must identify the nature of the budgeting process or processes used by the organization. Are these processes effective? Why or why not? Discuss why you believe the budgeting process in the selected organization is of value, or why it should be abandoned.
Write a 2 to 3 page paper and upload to coursenet.
SLP assignment expectations:
Use information from the modular background readings as well as any other reliable resources you use. Please cite all sources and provide a reference list at the end of your paper.
LENGTH: 2-3 pages typed and double-spaced.
The following items will be evaluated in particular:
1. Your ability to explain and analyze the budgeting process with your own company
2. Apply terms of efficiency and effectiveness to budgeting process
Background
The following required and optional readings discuss (1) the options beyond budgeting which may be used for managerial planning and control, (2) the relationship between budgeting and strategic decision making, and (3) the budgeting practices in different countries. Reading these materials carefully should help you complete and respond to the assignment expectations adequately.
Required Readings
Libby, Theresa and Lindsay, R Murray, (2007). BEYOND BUDGETING OR BETTER BUDGETING? Strategic Finance, 89(2), 46-51.
Max, Mitchell, (2005). Beyond Budgeting: Case Studies in North American Financial Services. Journal of Performance Management, 18(1), 3-15.
Shastri, Karen and Stout, David E., (2008). Budgeting: Perspectives from the Real World. Management Accounting Quarterly.
With, Elbert De and Dijkman, Aagtje, (2008). Budgeting Practices of Listed Companies in the Netherlands. Management Accounting Quarterly. Retrieved July 26, 2010, from http://findarticles.com/p/articles/mi_m0OOL/is_1_10/ai_n31369438/?tag=r bxcra.2.a.33
Optional Readings
Becker, S., Messner, M., Schaffer, U. 2010. The Evolution of a Management Accounting Idea: The Case of Beyond Budgeting. SSRN Working Paper Series. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1535485
Scarlett, B. 2007. Management Accounting – Performance Evaluation. Financial Management. London: Sep 2007. pg. 54.
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