When Balance Is Bad

Eyermann, Louis
September 1999
Financial Executive;Sep/Oct99, Vol. 15 Issue 5, p44
Academic Journal
This article examines budgetary processes at many large firms. According to Hackett Benchmarking solutions, the average company takes nine months to complete its annual budget. The author contends that the concept known as the balanced scorecard is partially to blame and advocates using driver-based forecasting. This method employs only certain financial and operative factors to devise a predictive model. It forecasts profitability by analyzing the determinants of revenue, cost and profit. However, this tool needs staff support and technological support to be effective.


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