Budgeting: Achieving Results Self-Study Webinar (10 Hours)

Overview: 

Budgeting is an essential tool for supporting business growth, improving profitability and gaining an edge in our fiercely competitive global economy. This self-study webinar presents new and effective approaches to budgeting and focuses on:

  • An in-depth discussion of reality-based budgeting
  • The importance of strategic planning in establishing an effective budget
  • Why the traditional emphasis on earnings does not work
  • Approaches to minimizing the time it takes to create an effective budget
  • How you make budgeting a vital management tool
  • Today's best practices in budgeting
Objective: 

To demonstrate to the accountant the value of advanced budgeting techniques, which include integrating corporate strategies into the business model and budgeting process. You will see how today's best practices in budgeting are being applied in leading corporations and how this process facilitates capital formation, growth and profitability.

Emphasis: 
  • Case studies of CFOs' approach to financial planning and budgeting
  • Why traditional budgeting does not serve today's corporate needs
  • The importance of the business model in the budgeting process
  • Performance-based budgeting concepts
  • Computerize the budgeting process without spreadsheets
  • Budgeting best practices 
    – Partaking in a best practice survey evaluating a company's budgeting process
    – Defining the term "meeting the budget"
  • A checklist to evaluate the effectiveness of your budgeting process
  • The importance of budget and forecast review meetings
  • New dynamics in financial management and budgeting
  • Improving budgeting process efficiency, shortening preparation time and reducing revisions
  • Making the budget work throughout the year

Identify the common perception of the budget and the budgeting process

Identify the characteristics of an effective budget

Identify the common basis for the traditional budget

Recognize the early contribution of McKinsey to today’s modern budget

Recognize the common problems most often cited regarding the traditional budget

Identify the role of technology and communication advancements in today’s budget process

Recognize the characteristics of a results-based budgeting process

Identify the role of the budget process in respect to defining and measuring business goals

Identify the role of top management in the formation of a reality-based budget

Recognize the ideal solution to resolving budget differences between executives and management

Recognize macroeconomic external forces affecting the budget

Identify common measures used to evaluate financial metrics

Identify common key performance indicators used in business planning

Identify the typical period in which an annual traditional budget remains relevant

Recognize the differences between a budget and a forecast

Recognize the characteristics of a flexible budget

Recognize the innovative way in which a case study company developed their management information for planning purposes

Identify the methods of analyzing company results under a “balanced scorecard”

Identify examples of internal and external operational benchmarks

Identify the primary results of effective top-down strategic goal planning

Recognize common budgeting and planning best practices

Recognize the role of budgeting and forecasting software

Recognize the characteristic of preferable budgeting and forecasting software

Identify the frequency in which companies integrate their strategic plans, tactical business plans, and the budgeting process

Identify the annual cost of the budgeting process in a typical Fortune 500 company

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Price: 
$299.00
Prerequisite: 

Basic knowledge of financial accounting and budgeting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
10.00
NASBA Field of Study: 
Finance