Budget planning

Details Budget planning Budget planning

2006-10-31

2006-10-31

Patel, Jagdish N (Department: 3624)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

C705S001100, C705S007380, C705S014270

Reexamination Certificate

active

07130822

ABSTRACT:
The invention is directed to a budget planning system that improves the accuracy and predictability of budget planning within large organizations by enabling organizations to reconcile corporate financial models and organizational targets with detailed spending forecasts. The budgeting system includes a database that is configured to store data defining a budgeting model for the organization. The model has a plurality of hierarchically arranged nodes, each node corresponding to a “contributor” that either provides forecast data or review data provided by contributors associated with lower level nodes. The system is configured to capture target data from a set of financial analysts, capture forecast data from the contributors and reconcile the target data and the forecast data according to the model.

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