How to set up a budgeting and planning system

Article Abstract:

The utility holding company Penn Fuel Gas (PFG) Inc. installed an annual and long-range operating budget process to satisfy the information requirements of its bankers, board of directors and management. The company recruited a full-time, experienced practitioner to supervise budgeting activity. This new budget director was faced with the challenge of learning the business, identifying the information needs of the users, and reviewing and revising the information system. This manager also had to grapple with different internal reporting systems, address a different business segment, provide hard-to-obtain segment information, review expense allocations, reconcile amounts back to the ledger, and ensure timeliness and availability of information. The budget manager developed the monthly financial packet and the annual business plan, and provided formatting tips. Budgeting has vastly enhanced communication and teamwork throughout the company.

Natural Gas, Crude Petroleum and Natural Gas Extraction, Natural Gas Distribution, Crude petroleum and natural gas, Electric, Gas & Water Utilities, Utilities, ELECTRIC, GAS, AND SANITARY SERVICES, Gas Transmissn & Distributn, Gas Production and Distribution, Special warehousing and storage, not elsewhere classified, Other Warehousing and Storage, Storage Facilities NEC, Accounting and auditing, Warehousing, Gas industry, Public utilities, Warehouses, Business budgets, Corporation reports, Company reports, Penn Fuel Gas Inc.

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Executing a successful spin-off and IPO transaction

Article Abstract:

Companies should take a number of steps when planning a spin-off transaction accompanied by an initial public offering (IPO). The first is to establish an IPO team tasked with determining whether the transaction will involve the sale of assets or a stock deal. Various accounting issues can then be addressed such as the consistency of accounting procedures, assessment of goodwill and valuation of patents. The IPO team should also be given office space, the authority to hire outside consultants and suppliers and access to accounting software and training. The next step involves the preparation of financial statements for the IPO filing followed by the development of a transition plan for the new business and the disbanding of the IPO team.

Going public (Securities), Initial public offerings, Corporate divestiture, Divestiture

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Up and running in nine months

Article Abstract:

Developers of Enterprise Resource Planning (ERP) software have responded to their customers' demand for a shorter implementation period by developing a rapid implementation strategy that shortens the timetable to as little as nine months. There is great interest in accelerated ERP implementation because it means enjoying the benefits of the system sooner, controlling consultation fees, and keeping ahead of the Year 2000 date-change problem. To make implementation faster and easier, SAP, QAD, Baan and other ERP vendors are offering implementation 'accelerators' such as preconfigured versions of the computer program, rapid implementation methodologies, implementation tools, deliverable templates and application software.

Prepackaged software, Software, Suites (Software), Business planning, Calendar, Resource allocation, Integrated software

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