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Fast annual budgeting and planning for an SME
By David Parmenter
If you have taken a position as the chief accountant in a company with less than 250 employees you cannot afford to preside over the debacle that is the annual budgeting and planning round. The five steps you can make to introduce a fast annual budgeting process […]
60 forecasting and planning tool providers and their applications
By David Parmenter
New planning tools are being built all the time and this table, on Exhibit 5.4, is certainly out of date at the time of you reading it. The table is not intended to be a comprehensive list as this would be a paper in itself. […]
10 spreadsheet errors that ruined careers
By David Parmenter
These high profile spreadsheet errors sho0uld send the shivers down the spin of any senior manager presiding over a team that uses large spreadsheets. I will argue that there should be a maximum size of 100 rows in a modern organisation who wants to protect its reputation.
1 . Austerity […]
The 10 common problems with spreadsheets
By David Parmenter
The 10 common problems with spreadsheets are:
Broken links or formulas: An individual may add or eliminate a row or column so when a group of spreadsheets are rolled up, the master spreadsheet is taking the wrong number from the one that was modified.
Consolidation errors: I say to attendees that Excel […]
Spreadsheets errors abound- why you need to rely on more robust systems
By David Parmenter
Senior management is often blissfully unaware of the risks they take every time they rely on information from large spreadsheets.
The 10 common problems with spreadsheets are:
Broken links or formulas: An individual may add or eliminate a row or column so when a […]
10 areas where spreadsheets have no place to be
By David Parmenter
Excel has no place in a modern organisation in the following areas:
Forecasting and planning – covered in this paper
Month-end and year-end reporting – these should be in a robust reporting tool often part of the planning and forecasting tool which is uploaded with […]
To create a successful sales pitch to your senior management team and the board, you should:
1. Make sure you have a good proposal with a sound focus on the emotional drivers that matter to your audience.
2. Focus on selling to the thought leaders on the senior management team and board before you present the proposal. […]
Checklist to Streamline the Annual budgeting process
By David Parmenter
Many accountants find themselves having to maintain an annual budgeting process even though they would rather be doing quarterly rolling planning. This checklist is designed to help make the antiquated process quicker and at the same time plant the seed for quarterly rolling planning. This checklist assumes […]
Setting monthly budgets from a rolling forecast Not the Annual Plan
By David Parmenter
Monthly budgets should be set on a quarterly rolling basis. In the last months of the year after the Annual budget has been finalised, we ask budget holders, “What do you really need for the first three months of the new year”.
It is […]
5 Lean Routines for the Annual Budgeting Process
By David Parmenter
1. Adopting Peter Drucker’s Abandonment with the annual planning process
Peter Drucker, the father of modern management, introduce the concept of adopting abandonment. In annual budgeting the common abandonments include:
Removing large spreadsheets from the process and migrating to a modern forecasting tool
Budgeting at account level
[…]
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