In practice, an organization’s fiscal principal often delegates responsibility for transaction processing, record keeping and financial monitoring to another employee within the unit. This individual ...

Modern financial systems offer the ideal way to tie budget to strategy and improve decision-making, explains Russ Rumbaugh, who left the Navy in January 2025.

When faced with a financial variance from one year to the next, management may decide to take corrective action such as reallocating budget or reducing expenditures. Similarly, when analysis indicates ...