Week 4 Discussion Budget Case Study 3

Week 4 Discussion Budget Case Study 3 - company. They need...

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Since most questions concerning the current way Springfield is doing their budgets seem to be covered, I did some research on how they could improve their current process (top-down approach). The first thing Springfield could do to get them moving in a better direction is a forming a budget committee. Instead of approaching the different departments separately at different times, it would be better time management to get them all together at once. Representatives from the marketing department and the manufacturing unit would be able to consult with upper management to ensure their needs are met in order to maximize profits for the
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Unformatted text preview: company. They need to avoid budget padding and impossible budgeting because it does little to help the overall organizations budgeting goals and may only create frustration. There is not always a definitive way for each company to do their budget. A companys structure may affect how their budget should be approached. In the Springfield case it is evident that their current approach is not working and they need to rethink their strategy. Source: http://www.principlesofaccounting.com/chapter%2021.htm...
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