A common mistake during or even before starting the budget planning process in a company is confusing the organizational structure with the structure of responsibility. This error is common, especially in organizations that also have other budgeting challenges we’ve written about before, such as budgetosis or creating an organization’s strategic budget. When budgeting, these two […]
Czytaj dalej… from Building corporate responsibility structures and budget planning
Another topic, as part of the educational cycle „Challenges of budgeting in a large company” is the topic of going beyond the operational budget and creating the strategic budget of the organization. What is a strategic budget for and whether having it is a „luxury” you will learn later, but to talk about the strategic […]
Czytaj dalej… from Creating the organization’s strategic budget
What if the operating budget is not related to the company’s strategy? Thinking deeper about this topic, which is part of our series „Budgeting challenges in a large company”, you have to go back a bit. The first question to ask is is there a strategy at all in the company? Company strategy or lack […]
In the cycle „Budgeting challenges in a large company” we face another topic related to with closing and looping in the budgeting process, and the resulting phenomenon of budgetosis. Many processes in the company are repetitive, cyclical processes, and having such experience, we approach budgeting methods in the same way. However, it is worth looking […]
Czytaj dalej… from Closing and looping in the budgeting process. The phenomenon of budgetosis.
Coordination of activities in the company and proper communication between various departments and structures is a seemingly simple thing, but also extremely important, not only in the budgeting process, but also in every day of the company’s operation. When referring to budgeting processes, however, it takes on a different meaning. The challenge of planning the […]
International Financial Reporting Standards (IFRS16) introduced many changes, including covering several types of costs with leasing or a uniform accounting model. This, in turn, required updating and adapting the records of leasing contracts to the new legal reality. Despite the fact that the standards have changed some time ago, the management of leasing contracts can […]
Czytaj dalej… from How to speed up the leasing contracts management?
Even small businesses have to deal with data overload. And the more they expand their business, the more factors influence their business model. This necessitates automation to help minimize risk and gain insight into structured and unstructured data. A good solution in this regard is predictive business analysis. Predictive business analysis – what is it? […]
Extended Planning and Analysis (xP&A) is an approach to financial management that uses advanced analytical tools to predict financial performance and optimize planning and budgeting. It enables enterprises to generate more accurate forecasts and scenarios, taking into account various factors and events that can affect financial results. Many organizations large and small rely on error-prone […]
The future of ESG reporting (Environmental, Social, Governance) is expected to involve increased standardization, greater transparency, and wider adoption of ESG practices. When will it actually happen? Does the entry of the CSRD (Corporate Sustainability Reporting Directive) on December 14, 2022 change everything? Who does the CSRD apply to? The provisions of the CSRD Directive […]
Not only an excellent product and an effective marketing strategy, but also a well-thought-out financial management system can be considered as the foundation of the company’s operations in a market economy. Not knowing all the cash flows combined with a lack of vision for the future is the perfect recipe for failure. How to start […]
Czytaj dalej… from What can you gain from financial planning?