A happier annual budgeting process

Photo by John Peters on Unsplash

When I had more junior finance roles in larger organisations, I often found the annual budgeting process to be somewhere between traumatic and soul-destroying. Week after week of meetings and emails and multiple versions of clunky spreadsheets.

So when I became a Finance Director, I thought long and hard about what made organisational budgeting so awful. I then identified four key components of a happier budgeting process;

  • alignment
  • training
  • tools
  • trust

This post explores these further.

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A smooth year end accounts process

Plan ahead to make your year end run smoothly
Photo by Bill Oxford on Unsplash

If you’re managing a finance team, at some point you (or someone in the team) will need to prepare some kind of year end accounts, also known as statutory accounts. I’ve been doing this for many years now and in this post I will share my observations about what makes for a smooth year end process.

The short version of this; planning in advance will always reap dividends. As you will see, most of my advice concerns things you can and should be doing well in advance of year end.

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