Good Bye Traditional Budgeting, Hello Rolling Forecast: Has the Time Come?

Autor/inn/en	Zeller, Thomas L.; Metzger, Lawrence M.
Titel	Good Bye Traditional Budgeting, Hello Rolling Forecast: Has the Time Come?
Quelle	In: American Journal of Business Education, 6 (2013) 3, S.299-310 (12 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	1942-2504
Schlagwörter	Budgeting; Accounting; Budgets; Business Skills; Business Administration Education; Leadership Training; Leadership Effectiveness; Leadership Qualities; Leadership Styles; Instructional Materials; Demonstrations (Educational); Textbook Content; Teaching Methods; Educational Practices; Educational Strategies; Strategic Planning; Prediction; College Programs + Suchen Sie Ihr Suchwort? Abrechnung; Buchführung; Buchhaltung; Finanzhaushalt; Führungslehre; Führungseffizienz; Führungseigenschaft; Führungsstil; Lehrmaterial; Lehrmittel; Unterrichtsmedien; Demonstrationsexperiment; Demonstrationsmodell; Demonstrationsunterricht; Lehrbuchtext; Teaching method; Lehrmethode; Unterrichtsmethode; Bildungspraxis; Lehrstrategie; Strategy; Planning; Strategie; Planung; Vorhersage; Studienprogramm
Abstract	This paper argues for a new approach to accounting textbook budgeting material. The business environment is not stable. Change is continuous, for large and small business alike. A business must act and react to generate shareholder value. The rolling forecast provides the necessary navigational insight. The traditional annual static budget does not. Managing a business, looking inwards and backwards and making decisions to hit the annual budget target no longer serves management in generating shareholder value. In most situations this approach to company management only leads to compromised performance. Leadership may not reach long-term shareholder wealth potential in using the traditional annual budget as a command and control device. Our research shows companies are moving to a rolling forecast as a management navigational tool. Leadership uses the forecast to navigate continuous change in creating shareholder value. This paper demonstrates how to build leadership concepts that go along with the rolling forecast, as well as the rolling forecast process itself into the classroom and accounting textbook material. Accounting and graduate business students need this type of education to help lead and increase a business' chances of success. (As Provided).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/1/01