Preface
THE NEED TO IMPROVE YOUR BUDGETING PROCESSES
Despite advances in technology and finance, we have not reached the limit of knowledge or made the most advanced achievements in reaching our financial goals. That is a definition of a frontier that we face in these times.
There are many types of budgeting, and most of them are covered in this book. The need for sound, dependable information as the basis for quality decision making based on reliable budgets, I contend, has never been stronger. That is the reason I proposed revising this book to present this sixth edition of the Handbook of Budgeting.
I could report on the state of the economy and economic trends, citing a variety of sources and experts; however, my only point is that in bad times more than in good times, budgeting can be key to an entity’s survival or prosperity.
This book is intended as a business tool. I shall leave it to the academicians to analyze what might work better. Instead, our authors present 35 chapters of tried-and-true experiences taken from frontline business exposure that will enlighten you as to how you may incorporate real changes in your environment.
I became the second editor of this book after its founding editor died. One reason I was selected to replace him was due to the extensive work I was doing at the time in the budgeting area for delivering continuing professional education to senior financial executives. One day at a conference, an attendee approached me, realized I was the book ...
