Budget Analysts

Budgets have been used for many years by government agencies and companies to plan for and assess potential revenue and expenditures. As early as 1760 in Great Britain, the chancellor of the exchequer (i.e., the British government’s chief financial minister) presented the national budget to parliament at the start of each fiscal year, according to “The Beginnings of Business Budgeting,” by Edwin L. Theiss in The Accounting Review. The national budget was created by the chancellor of the exchequer with assistance from budget analysts and other financial professionals. In the public sector, demand for budget analysts increased as government agencies grew in size, more taxes were collected, financial expenditures rose, and major events such as world wars, recessions, and depressions prompted a need for better financial management. In the private sector, the growing size and complexity of businesses created a need for strong budgetary planning and management to ensure the proper functioning of companies. Today, budget analysts play a major role in the success of businesses, government agencies, and nonprofit organizations.