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Article: Advanced budgeting requires an advanced management system. (corporate budgeting and management systems; includes related article on advanced management systems)
- Article from:
- Management Accounting (British)
- Article date:
- December 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 Chartered Institute of Management Accountants (CIMA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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`Traditional budgeting is seriously out-of-tune with today's business needs but the solution is not to change the budgeting system. Instead, companies must develop their management processes towards what is becoming known as an `advanced management system'. Those doing this are gaining real competitive advantage and, at the same time, finding that budgeting is becoming much less of a problem'. These are the views of Robin Fraser, a partner in Coopers and Lybrand, who is the leader of the Advanced Budgeting Study Group set up by the Consortium for Advanced Manufacturing International (CAM-I).
The study
CAM-I is an international non-profit making ...