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"Continuous" budgeting: reconciling budget flexibility with budgetary control
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Frow, Natalie, Marginson, David and Ogden, Stuart. (2010) "Continuous" budgeting: reconciling budget flexibility with budgetary control. Accounting, Organizations and Society, Vol.35 (No.4). pp. 444-461. ISSN 0361-3682
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Official URL: http://dx.doi.org/10.1016/j.aos.2009.10.003
Abstract
This paper explores the role of budgeting in the context of the more flexible modes of management required in conditions of uncertainty. It contributes to the growing literature on the tensions between the need to meet specified financial targets, as expressed in budgets, and the need for more flexible and innovative forms of managing prompted by heightened market volatility and rapid rates of technological change Drawing on case study evidence, the paper introduces the notion of "continuous budgeting" to highlight the ways in which one organization sought to reconcile these potentially conflicting objectives By integrating different uses of budgeting with other management controls, the processes of "continuous budgeting" encouraged managers to use their discretion in operational matters when confronted by unexpected events Consequently, it enabled managers to prioritise, as necessary, the revision of plans and reallocation of resources in order to meet wider strategic organizational objectives As well as empowering managers, "continuous budgeting" also imposed strict accountabilities to ensure that managers remained committed to achieving their own and the organization's financial targets Thus far from being an obstacle, budgeting contributed effectively to both the flexibility and the financial discipline required for effective strategy implementation (C) 2009 Elsevier Ltd. All rights reserved.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Faculty of Social Sciences > Warwick Business School |
| Journal or Publication Title: | Accounting, Organizations and Society |
| Publisher: | Pergamon |
| ISSN: | 0361-3682 |
| Date: | May 2010 |
| Volume: | Vol.35 |
| Number: | No.4 |
| Number of Pages: | 18 |
| Page Range: | pp. 444-461 |
| Identification Number: | 10.1016/j.aos.2009.10.003 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| URI: | http://wrap.warwick.ac.uk/id/eprint/5737 |
Data sourced from Thomson Reuters' Web of Knowledge
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