Hypocracies and Hazards of People using Budgets :-)

Well, we had a double session on Managerial Accounting today, and while Luis walked us through the Siemens case that we did as a group work in the first half, to conclude the ABC, he started with Budgeting in the second half. After explaining the various types, and other details of budget he came to a slide which listed the hazards and hypocrisy that people exhibit when it comes to budgets. Want to know more? How about asking yourself - have you been in a situation where you increase expenses and spend your budget in last quarter, just to ensure that you utilize the budget fully [because other wise next year, it is going to be cut down]? Do you eagerly wait for headlines of national budgets, where they announce all the plans for upcoming year? Have you ever gone back with the same enthusiasm and checked/read about the control measures that the administration uses while allocating this budget?
I guess you would have got the point. Thinking about all these aspects, and the experience so far with Luis, looks like it is going to be a great learning experience in budgeting. Looking forward to it :-)

Skipped the technology class today in favor of preparing for the two mid-terms tomorrow. Add to it, there is also an investment analysis class to prepare for. Stayed back in school to study for mid-term until around mid-night and then came home to write this post, go through a few sample capacity problems and prepare for investment analysis.

Long day, but full of great learning and studying experience :-)