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
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.
- 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
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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 various approaches to, and uses for, financial statement analysis
• Identify the terminology associated with strategic planning for both established entities and startups
• Recognize the priorities of corporate long-term strategic planning
• Recognize common types of projections developed by financial analysts
• Recognize common types of ratios developed by financial analysts
• Identify the primary reasons behind the failure of some corporate strategies
• Identify the differences between raising capital for private vs. public entities
• Identify the implications of funding through venture capitalists
• Recognize the common categories of information contained in strategic planning documentation
• Identify the formula for common financial analysis ratios
• Identify the ramifications of trends in common financial ratios
• Identify the components of a SWOT analysis
• Recognize a lender’s criterion for the granting of credit
• Recognize the fundamental conflict of national credit rating agencies
• Identify the range of scores of the national credit agencies and their implications for borrowers and lenders
• Identify the methods used by cash flow challenged entities to preserve their cash
• Recognize the significance of the Altman Z score and its implications for borrowers and lenders
• Recognize effective working capital management techniques
• Recognize the different valuation methods used in acquisition planning
• Identify the factors influencing an entity’s cost of capital
• Identify common approaches to, and uses of, benchmarking
