Read the article https://www.journalofaccountancy.com/issues/2014/apr/forecastin

Question

Read the article https://www.journalofaccountancy.com/issues/2014/apr/forecasting-budgeting-cgma-magazine-20149480.html

Write down the article review on

A summary of the central theme and scope of the article – What are the main arguments? What is the point of the article? What topics are covered?

An explanation of how the article impacts your understanding of the course material; Was the article helpful to you? Do you agree with the author’s arguments / points made in the article, and why? Has it changed how you think about portions of the course content, and why? Include any other points you feel are relevant to your review.

An evaluation of the authority, background and qualifications of the author(s)

Explanation / Answer

The central theme of the article is to analyze the changing scenario of Planning, Forecasting and Budgeting in the present business environment. According to the author, the increasing speed and complexity of business has led to a steep decline in the time horizon available for planning and framing decisions. Due to this reason, the traditional techniques of planning are experiencing a massive change and new and time efficient techniques are being discovered for efficient decision making in the dynamic business environment. At the end of the article, the author has emphasised the importance of monitoring the business ethics with the help of digital media.

Proper forecasting of the business environment is necessary for framing accurate decisions which is essential for survival of any business. Thus, the traditional methods of forcasting the business environment and the reliability of these techniques has been properly analysed in the given article. The elements essential for forcasting such as spreadshets, budgets, finance etc has been analyzed and it has been observed that these elements play an important role in forcasting and planning the future decisions of the management.

This article has a major impact on my understanding of the course material and it has also helped in broadening my knowledge and has directed me to think in a multi-dimensional manner. This article has influenced my perspective regarding the planning, forcasting and budgeting in a dynamic business environment. Thus this article was really very helpful for me.

Yes I agree with the author's arguments / points made in the article. Since, the arguments are rational and in compliance with the curent business environment.

I think that the author has aptly covered all the important aspects of forcasting the business environment and thus i do not find anything missing in the article.

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