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Budgets and Rolling Forecasts

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1. According to information posted by the Oregon Society of Certified Public Accountants, the current trend for businesses in relation to budgeting is changing a direction to "flexible budget tools." The information posted also indicates that "more companies are abandoning budgets in favor of rolling forecasts." In essence most companies disclose they budget, but implement the budget tools of rolling forecasts, flexible budgets, and event-driven planning to carry-out budgetary processes. Does anyone agree with this?

https://secure.orcpa.org/about/news/5/999-companies_turn_to_flexible_budget_tools

2. The master budget is a detailed and comprehensive analysis of an organization's long- and short-term goals. Identify the major inputs to the master budget and the usefulness of each. Additionally, why would a company need to create a master budget? What are the advantages and disadvantages?

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This solution discussed budgets and rolling forecasts.

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1. According to information posted by the Oregon Society of Certified Public Accountants, the current trend for businesses in relation to budgeting is changing a direction to "flexible budget tools." The information posted also indicates that "more companies are abandoning budgets in favor of rolling forecasts." In essence, most companies disclose their budget, but implement the budget tools of rolling forecasts, flexible budgets, and event-driven planning to carry-out budgetary processes. Does anyone agree with this?

I would have to agree because of how prominent technology has played a role in society around the world. Since the economy has taken a downturn for the U.S. and Europe, people in businesses have had to adapt because of the fact that they have to live in the moment. However, the years previously, they were able to do so without having to become flexible in order to make sure that they are able to keep up with the times. Since our world revolves around ...

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