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Strategic Planning and Forecasting

  • Vassili Joannidès de Lautour
Chapter

Abstract

This chapter significantly departs from is habitual in management accounting textbooks and research by addressing not the Master Budget but issues in forecasting and strategic planning. Whilst strategy invokes the necessity of forecasting and planning management, accounting still remains committed to the Master Budget and its rigidity. Therefore, this chapter builds upon the Beyond Budgeting RoundTable’s works on forecasting and strategic planning to discuss the main steps and features of this activity central to management. This chapter also provides a systematic methodology aimed at anticipating changes in the environment likely to occur and impact on the conduct of operations. Whilst the traditional Master Budget neglects strategy, forecasting and strategic planning put strategy first, operations and finance proceeding thence.

Keywords

Forecast Strategic planning Revenue accounting Expense accounting Investment accounting 

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Authors and Affiliations

  1. 1.Grenoble École de ManagementGrenobleFrance

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