全面預(yù)算的多維模型外文翻譯（英文）

1、 Quantitative Methods in Audit and Control 408 MULTIDIMENSIONAL MODEL FOR THE MASTER BUDGET Daniela Ioana SANDU1 PhD Candidate at the University of Economics, Bucharest, Romania Senior BI Consultant at IBM, Milan, It

2、aly E-mail: sdi78@yahoo.com, daniela.alexandru@it.ibm.com Abstract: In a dynamic business environment characterized by extreme competitiveness and the need to quickly adapt to new and changing market condition, informati

3、on has became an asset. Timely and quality information are the basis for quality decisions, and only quality decisions help survive and prosper on the market. Business intelligence applications help the management take q

4、uality decisions. Business Performance Management applications steer the entire organization in the same direction, enabling the organization to translate strategies into plans, monitor execution, and provide insight to

5、improve both financial and operational performance. A BPM implementation often combines financial with non-financial metrics that can identify the health of an enterprise from a variety of perspectives. BI and BPM applic

6、ations implement multidimensional models, powerful models for data analysis and simulation. The present paper describes a multidimensional model that supports the construction of the master budget of an enterprise with s

7、imulation facilities. Key words: business performance management; business intelligence; planning; budgeting 1. Business Performance Management Wayne Eckerson from The Data Warehousing Institute defines BPM as being “a

8、 series of processes and applications designed to optimize the execution of business strategies”, while Lee Geishecker, research director of the well-known research institution Gartner Inc defines BPM as being a set of

9、 ? methodologies, metrics, processes and systems used to monitor and manage an enterprise’s business performance”. The term Business Performance Management – BPM is synonym with the terms Corporate Performance Managemen

10、t - CPM , Enterprise Performance Management - EPM and means steering the organization in the same direction by allowing the transformation of strategies in plans, monitoring the plans execution and offering detail inform

11、ation on the organization evolution for improving the enterprise’s operational and financial performances. A BPM implementation combines financial with non-financial metrics in order to identify the degree of hea

12、lth of the economic organization from a variety of perspectives. A BPM software solution contains standard components such as: ? Planning, budgeting and forecasting: components that allows defining plans, creating budge

13、ts and forecasts; Quantitative Methods in Audit and Control 410 The budgeting process produces the master budget. The master budget brings all the pieces together incorporating the operating budget and the financial budg

14、et: - the operating budget consists of budgets from each function (research and development, production, marketing, distribution, customer service) and provides the budgeted income statement; - the financial b

15、udget includes capital budget, the cash budget, the budgeted balance sheet, the budgeted cash flow. The master budget integrates operational and financial budgets and is created with an iterative process during which

16、 information flows back and forth from each element of the master budget. Planning is a strategic prediction of business performance at a summary level. Plans are defined by senior managers who help the company respond t

17、o changing market conditions and opportunities. The process is frequent and must be completed quickly. Budgeting is planning distributed to individual areas of responsibility across the business. Many more people are inv

18、olved in the process and the work is done at a greater work of detail. Budgeting is a slow process, often taking weeks and performed once or twice a year. Forecasting is a revision of the budget (sometimes in at a summar

19、ized detail) to reflect changing market conditions, strategic plan alterations, error corrections, revised assumptions in the original approved budget. Organizations typically re-forecast monthly; a handful of finance p

20、ersonnel take part in the process. Table 1. Planning, budgeting and forecasting (source: [8]2) Frequency Speed Detail level Personnel involved Planning Often Quick Summary Senior management Budgeting Annual Slow

21、 Highly detailed All departments Forecasting Monthly Quick Summary, light detailed Finance Budgeting performs 4 basic functions, each critical to a company in achieving its strategic objectives: planning, coordin

22、ating and communicating, monitoring progress, evaluating performance. Planning, budgeting and forecasting are the most important management functions. Their main purpose is to enable senior managers to see the financial

23、 implications of various business scenarios. It is a continuous and rapid cycle that provides a near-real-Operating budget Financial budget Development and research Design Production Marketing The MASTER BUDGET Distr