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财务管理——预算(英文 )免费下载,http://www.qidian55.com
BudgetstoSolve“Agency”Problems
Short-termbudgetsasinternalcontracts.
Toformallycommitresponsibilitycenters
Asawarningforfuturemonitoringactions
Long-termbudgetstoreduceinformationasymmetry.
Tosolicitprivatespecializedinformationfromlocalmanagers
Forcemanagerstothinkstrategicallyratherthanonjusttheshort-termresults
BudgetstoSolve“Agency”Problems
Line-itembudgets
Authorizemanagerstospendonlyuptoacertainamountperlineitem
Cannottransferexcesstoandfromline-items
Noincentivetoreducespending
Budgetlapsing–nocarryoverstonextperiod
Incentivetospendallthebudgetedamounts
Intendtoavoidmanagersbuildingupslacksandsmoothingperformanceovertime
InternationalAspectsofBudgeting
Multinationalcompaniesfacespecial
problemswhenpreparingabudget.
Fluctuationsinforeigncurrencyexchangerates.
Highinflationratesinsomeforeigncountries.
Differencesinlocaleconomicconditions.
Localgovernmentalpolicies.
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