Accounting For Decision Making

Paper Summary:

Focuses on budgeting as a key element of a company's strategic management process. Discusses historical relationships of budgets & corporate growth, and its current status as a tool for fiscal predictions. Mergers imapact. Spreadsheets & development of electronic spreadsheets Concept of Economic Value Added (EVA). Gives example of a hypothetical software company takeover & the role budget projections play.

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"ACCOUNTING FOR DECISION-MAKING

Executive Summary
Every company, whether large or small, faces several dilemmas when confronted with the budgeting process. This essay traces the budgeting process from its beginning concepts to the budgeting of today by addressing the concept that budgets are sometimes referred to as "tools of repression and barriers to change."
It is shown that there was some truth to that statement historically but that today budgeting is an essential part of a company's strategic management process. The essay traces budgeting from its original concept of analyzing the past to its current status as a tool for predicting the future.

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