Flexible Budgeting at Procter and Gamble

Managerial accounting class. Examine the budgeting process at a company. (use a us fortune 500 company) identify strengths and weaknesses of the company's Budgeting process.

Flexible Budgeting at Procter and Gamble

Budgeting process at Procter and Gamble

Procter and gamble uses a tailored budgeting process that is flexible to the ever changing realities in the business world. The budgeting process is preferred to using an outdated standard budgeting process that is stringent to the needs of the observable dynamism in the world of business. The budgeting process involves flexible roll out of forecasts that are adoptive to time dependent events in the market (Blocher, Stout, Cokins, & Chen, 2008).

Realistic long-term goals are used to achieve sustainable growth. Depending on the overall contribution of a business, different targets are made on the full budget portfolio. Research and development and innovations in the plans and...
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