Overview
The starting point in any budgeting process seems to be the most painful and least satisfying part in any company. Getting people to commit to performance so that a company can properly plan its resource allocations is difficult. Depending on the type of company, some budgets are production driven and others are market driven.
What are your experiences as to how budgets get started in a company? If you have no firsthand experience, where do you think a company should begin? How is business budgeting different from personal budgeting?
With all the effort that goes into budgeting, why does it seem that a common news story is that some municipality or other government subdivision is in fiscal trouble?
My source is: Principles of Cost Accounting , 17th Edition
Edward J. Vanderbeck; Maria R. Mitche
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