Building a Better Budget, Part 4: Taming All Those Numbers

September 2010
by Marion Gropen

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SKILL SETS: BUDGETING

Building a Better Budget, Part 4: Taming All Those Numbers

by Marion Gropen

So far in this series on how to build a budget from the ground up, we’ve explored “The Process and the Plan,” “Forecasting Sales,” and “Forecasting Expenses.” Along the way, we’ve accumulated a large and intimidating collection of numbers—and they’re all interrelated.

Obviously, you need to use a spreadsheet program to manage the calculations. But we’re book people. Spreadsheets aren’t always in our comfort zone.

If you know everything there is to know about building linked spreadsheets and keeping them under control, then skip what follows. If you’re a little hesitant about taming a monster spreadsheet, I have three suggestions for you:

• Build your sheets as templates for future uses as well as for current needs.

• Allow for your own fallibility and build to detect common errors.

• Let computers do the grunt work, and reserve your brain for the things that

need a human’s judgment.

Design for the Future

As you spend time to build this year’s budget, invest a …IBPA Members – Click here to view the full article (login required).

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