Biggest Budget Headaches for Accountants

Posted by accountingweb on Dec 11 2000 94 printer friendly

The biggest frustration corporate accountants and financial executives face during the planning and budgeting process is a lack of time, according to a survey from Comshare, Inc.

Thirty-nine percent of respondents said a shortage of time to adequately and accurately prepare budgets was the largest hindrance to the process. Here are the other factors:

Complexity/inefficiencies - 30 percent

Lack of accountability/commitment - 29 percent

Reporting difficulties - 22 percent

Software/system problems - 18 percent

"The purpose of the survey is to learn about trends occurring in the planning and budgeting processes in organizations across the range of industries," said Norm Neuman, senior vice president of marketing at Comshare. "The survey reveals that financial executives still struggle with separate systems for planning, budgeting, forecasting, financial consolidation, reporting and analysis."

Other results of the survey can be found at the Comshare Web site, where you can also request a paper copy of the report.

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