The question “Is the financial statement to finance the budget are the sole responsibility of the manager?” Was again discussed by the officials in many companies. The goal is to identity who prepare the best and more efficient budget. Prepare the budget is usually done at least once a year. Some large companies make preliminary budget this year.
If you post this question to a non-finance charge, it would most likely say yes without hesitation. The most common argument is that “it is not a finance guy and not good with numbers.”
However, if you ask the same question about a financial manager as he would have said probably not. His argument that the respective supervisors, which are directly linked to financial transactions, is better placed to provide an accurate budget for their areas.
Management perspective are two reasons valid. These things and the causes of difficult decisions very difficult.
In my many years of experience in the preparation of budgets, is the best way to prepare budgets, to achieve both financial and non-finance managers and work together to produce a budget that is close to reality.
The reason for this is simple and there are so many good benefits from this kind of budget preparation will be required. Some of the benefits are good:
1st Non-financial staff who are directly in financial transactions be better prepared in their fields of budget, compared to a CFO who is not his.
2nd Non-financial personnel will gather knowledge of finance and skills in the budgeting process for the preparation of the budget. History shows that the knowledge and skills to non-official financing may be more competent in their work.
3rd Problematic operational issues are easier to solve when they are translated into numbers. You would be able to make a better decision by making the numbers. This is especially true when it comes to high costs, such as software, hardware, equipment, vehicles, etc.
4th It saves time when both financial and non-finance staff working together, not two of them to work individually and separately.