The past two decades have witnessed a growing interest for performance management and budgeting reforms in response to louder public demands for government accountability in industrial countries. These reforms are intended to transform public budgeting systems from inputs control to an output and/or outcome focus in the interest of improving operational efficiency and promoting results-oriented...

Risk budgeting is a portfolio strategy where each asset contributes prespecified amount to the aggregate risk of portfolio. In this work, we propose an efficient numerical framework that uses only simulations returns for estimating portfolios. Besides general cutting planes algorithm determining weights portfolios arbitrary coherent distortion measures, provide specialised version Expected Shor...

This paper examines the relationship between the use of a fair budgeting process and subordinate performance. Organizational justice theory is used to de®ne a fair budgeting process as having two components: the subordinate's involvement in the budgeting process, voice; and the communication of a rationale for the subordinate's lack of in ̄uence over the ®nal budget target the superior sets, exp...

Our objective in this paper is to develop a decision-making model to assist decision-makers and researchers in understanding the effect of multiple criteria decision-making on a capital budgeting investment. This decision-making model helps decision-makers with reducing decision-making time and choosing a suitable decision alternative for a capital budgeting investment within the companies’ goa...

The ultimate goal of financial management in a dental school is to accumulate assets that are available for strategic growth, which is a parallel objective to the profit motive in business. Budget development is often grounded in an income statement framework where the goal is to match revenues and expenses. Only when a balance sheet perspective (assets = liabilities + equity) is adopted can st...

This paper investigates the relationship between enterprise resource planning (ERP) systems and budgeting to address the limited impact of ERP systems on management accounting. Budgeting is considered as a social phenomenon which requires flexibility for decision-making and integration for management controls. The analysis at the activity level, guided by the concept of ‘conflict’ in structurat...

Survival for any organism, including people, is a matter of resource management. To ensure survival, people necessarily budget their resources. Spatial perceptions contribute to resource budgeting by scaling the environment to an individual's available resources. Effective budgeting requires setting a balance of income and expenditures around some baseline value. For social resources, this base...