Budgeting Interview

This week I interviewed L.S. who works at a new accounting company. The following are the interview questions with her responses:

What is the most common budget constraint you frequently run into and how can it be fixed?

“I am in charge of budgeting and the most common issue I deal with is employees spending company money without permission or before getting approval and exceeding their allowance for certain events.

What is your favorite thing about budgeting at your company?

“Budgeting is not necessarily something I enjoy, it can be quite tedious and often frustrating.”

What is your least favorite thing about budgeting?

“Being the stickler and having to enforce the budget and explain the rules of company spending to other employees.”

What do you find to be the most difficult about planning your budget?

“Trying to anticipate and compensate for unexpected costs.”

How does budgeting affect your employees & customers?

“Budgeting can be a double edged sword. Depending on cash flow and how the company is doing, it can effect work hours for employees which also effects the amount of customers we can assist.

What is the main cause for being over budget?

“Executive employees spending more than they should.”

What is the main cause for being under budget?

“Good sales and not spending excessively.”

How often do you think the little things add up to help you stay under budget?

“The company I work for is a newer start up so we are typically always over budget at the moment.”

Who helps oversee the budget for the company?

“Myself, the owner and co-owner.”

How often do you make changes to your budget?

“We review the budget monthly together to address concerns and make the necessary changes.”

How often do you fire employees as a way of decreasing your budget?

“I am not responsible for firing employees, and as we are a new company no one has been fired as of yet.”

This interview helped me gain a little more insight as to how budgeting can work in a newer company that is still establishing itself. I can imagine how difficult it can be, especially for a new company, to gather data to help keep track of the budget and have a specific plan in mind in regards to actual numbers.

Published by Sean Stevenson

Hi! I'm Sean, I'm a nurse and student at Utah Valley University.

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