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Finance & Accounting
Pages 12 (3012 words)
U50093 Accounting Synoptic Student Number: Submission Date: Table of Contents Table of Contents 2 Are the criticisms made by the ‘Beyond Budgeting Round Table’ more or less applicable to non-profit organizations than to for-profit organizations?…
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9 How do the differences between profit and non-profit organizations affect the way in which they should employ budgetary controls? 11 References 14 Bibliography 15 Are the criticisms made by the ‘Beyond Budgeting Round Table’ more or less applicable to non-profit organizations than to for-profit organizations? Beyond Budgeting Round Table (BBRT), an independent industry established in the UK in 1988, is a learning network of member organizations that is internationally shared with an interest of transforming the organization’s performance so as to enable superior and sustained performance. The BBRT was set up in response to the growing dissatisfaction, indeed frustration attached with traditional budgeting. The BBRT helps organizations to learn from the best studies practiced world-wide, and encourages organizations to share information, their past successes and experiences on implementation of different strategies so as to develop improved solutions to traditional budgeting constraints. The purpose of the BBRT is to assist organizations in improving their bottom-line performance by introducing adaptive control principles that are simple and continuous planning techniques. BBRT promotes principles that lead to front line accountability and more dynamic processes. (Lalli, 2011, pp. ...
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