What does Tasking as a finance term mean?

February 08, 2010

Let alone my showing I lack knowledge, this post is for finance starters like me (I call myself one, am always a starter =)) !

Tasking is usually heard of from the Planning/ Budgeting and Forecasting peeps. It refers to either (1) the target reduction in budgeted costs that is called for from the budget holders, or (2) the target addition/ increase to budgeted revenue that the sales management is asked to achieve. Budgets are built in detail but below the detail total is a "task" in value of how much further cost reduction, or further sales increase is expected. (said these in my words though, anyone who can say it more concisely?)

Twenty months since I first heard the term, I havent had the luck when I searched it's meaning online. Just recently, my manager asked the budgeting peeps it's meaning. My lesson? Hindi ako nag-iisa!

=)    (Tag- Tasking meaning in budgets)

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