Best Estimate
Created Jun 15, 2023 (08:28)
, last modified Jun 15, 2023 (08:28)
by Yuanyuan Chen
Definition
Best Estimate forecast triggered by a business event. Adjustments are done at the same level (Macro-Package or Package) as it is defined for budget by GBU/Function. It includes the actuals for past quarters, plus the best estimate for current and future quarters
Label(s)
Budget
Created Jun 15, 2023 (08:29)
, last modified Jun 15, 2023 (08:29)
by Yuanyuan Chen
Definition
Zero Base Budget performed in Anaplan with defined Macro Package targets, supported by bottom up drivers modelling ‘should-cost,’ that rationalize spend to what is needed and creating a mechanism to optimize spend by Macro Package.
Label(s)
Budget Entry
Created Jun 15, 2023 (08:29)
, last modified Jun 15, 2023 (08:29)
by Yuanyuan Chen
Definition
Act of estimating next year period. Done at the intersection level of a cost center (or group of cost centers) at Package level using a Driver based (P*Q), Itemized or Lump-sum approach
Label(s)
Budget Guidance
Created Jun 15, 2023 (08:29)
, last modified Jun 15, 2023 (08:29)
by Yuanyuan Chen
Definition
Budget guidance validated by leadership at Macro Package Owners, and assigned to each GBU/Function level by Macro-Package
Label(s)
Budget Owner
Created Jun 15, 2023 (08:30)
, last modified Jun 15, 2023 (08:30)
by Yuanyuan Chen
Definition
The budget owner creates bottom-up budget on his/her perimeter of accountability, starting from a zero base. He/She is responsible for planning financial and operational data, leading and guiding the budget preparation, being accountable for the budget inputs and resource allocation, for a defined list of cost centers or group of cost centers.
Label(s)
Budget Owner Delegate
Created Jun 15, 2023 (08:30)
, last modified Jun 15, 2023 (08:30)
by Yuanyuan Chen
Definition
In exceptional cases, the budget owner can delegate the preparation to the Budget Preparer (e.g. plant managers, GBU presidents, LT members)
Label(s)
Budget Reviewer
Created Jun 15, 2023 (08:31)
, last modified Jun 15, 2023 (08:31)
by Yuanyuan Chen
Definition
Budget reviewer is conversant with all rules and regulations applicable to the budget. He reviews the budget submitted to him/her and approves or formulates action plans to adjust the budget proposed
Label(s)
Budget Submission Status
Created Jun 15, 2023 (08:31)
, last modified Jun 15, 2023 (08:31)
by Yuanyuan Chen
Definition
Budget approval status (In progress, completed)
Label(s)
Budgeting Node
Created Jun 15, 2023 (08:33)
, last modified Jun 15, 2023 (08:33)
by Yuanyuan Chen
Definition
This is the lowest level in Anaplan's Organizational hierarchy (level 5), at which budget entries are made. It corresponds to either a cost Center, or a group of cost centers.
Label(s)
Budgeting Perimeter
Created Jun 15, 2023 (08:34)
, last modified Jun 15, 2023 (08:34)
by Yuanyuan Chen
