Best Practices in Corporate Budgeting
3.5 (1 rating)
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Best Practices in Corporate Budgeting

This course discusses how to plan and carry out an effective budgeting process and more...
3.5 (1 rating)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
11 students enrolled
Last updated 6/2017
English
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Current price: $10 Original price: $50 Discount: 80% off
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Includes:
  • 2 hours on-demand video
  • 3 Articles
  • 3 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Explore how to design a budget launch package that will answer most users’ questions in advance and prevent the endless phone inquiries and late or incomplete submittals caused by user confusion.
  • Recognize how to explain for users the best mix of tools and techniques that are most likely to produce credible budgets that can be supported in analysis and achieved in bottom line results.
  • Identify the most common flaws in budget submittals by recognizing their causes.
  • Recognize why every budget must go beyond simply a P&L projection.
  • Discover the 5 things you should NOT do if you want your budget to be taken seriously.
  • Discover how to manage ongoing budget variance analysis in a way that demands accountability and enhances the likelihood that the budget goals will be achieved.
View Curriculum
Requirements
  • Prerequisites: A solid understanding of the interrelationship of the basic financial statements to one another and a moderate knowledge of Microsoft Excel.
Description

An effective budget is probably the most valuable tool in a company’s arsenal for setting and meeting an annual profit target. In this course we discuss how to plan and carry out an effective budgeting process, and then how to use it to manage actual results and produce the bottom line goal envisioned by the budget.

We start by defining the tools that the planning department should develop on the front end – the launch directive and the data collection tools. Then we move on to cover best practices for building the budget in each key area – revenues, expenses, cash flow, capital expenditures and the balance sheet. The course then provides proven tools for monthly budget management – addressing problem areas, changing course and accountability. 

Who is the target audience?
  • Anyone interested in Finance, Accounting, or related fields.
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Curriculum For This Course
9 Lectures
01:57:16
+
Introduction
6 Lectures 01:57:12


The Income Statement
12:24

Cash Flow, Balance Sheet and CAPEX
12:06

Managing to The Budget
16:25

Budgeting Best Practices Continuous Play
58:34
+
Supporting Materials
3 Lectures 00:03
Slides: Budgeting Best Practices
00:01

Budgeting Best Practices Glossary/Index
00:01

Budgeting Best Practices - Integrated Excel Model
00:01
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Review and Test
0 Lectures 00:00

Review Questions: Budgeting Best Practices

Review Questions
3 questions

Final Exam: Budgeting Best Practices

Final Exam
5 questions
About the Instructor
Illumeo Learning
4.2 Average rating
66 Reviews
617 Students
165 Courses
Condensed and Efficient Courses for Busy Professionals

Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.

Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.

Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.

Gene Siciliano (Illumeo)
3.5 Average rating
1 Review
11 Students
1 Course

Gene Siciliano is Your CFO For Rent,® a nationally known consultancy to middle market companies in all industries, both private and public. His strategies, solutions and implementation support create increased financial visibility, profit improvement and enterprise value for his clients during their growth and exit stages. His results enable CEOs to gain control of the money side of their companies, and to experience freedom from financial surprises and deferred retirements.

Gene is founder and president of Western Management Associates for more than 25 years, based in Los Angeles. His CFO for Rent® services to corporate middle-market CEOs and business owners focus on financial management strategy and advisory services, CEO and senior management workshops, and Controller-for-Rent™ services in interim accounting.

As an award-winning speaker and trainer and member of the National Speakers Association, he offers private presentations to CEOs (sometimes with their senior management teams) on their chosen topics of business and financial strategy.

He is the author of the best selling McGraw-Hill-published book entitled: “Finance for Non-Financial Managers, 2nd Edition,” and a personal finance book for educators entitled: “Financial Mastery for the Career Teacher,” published by Corwin Press. His articles on financial strategies and cost control have appeared in national and international periodicals, as well as his firm’s print and electronic newsletters and blogs. 

Experience

President : Western Management Associates - [1986-06 to Current]

President : Western Management Associates - [1986-06 to Current]
Founder and managing consultant of a financial management consulting firm providing interim and part-time CFOs and controllers to smaller middle market companies, primarily in southern California. For a few weeks, a few months, or a few years.

Chief Operating Officer : Vision Sciences International - [1984-06 to 1986-06]
Chief operating executive of this startup company formed with venture financing to develop, refine and sell a process for creating ready made spectacle lenses for consumer use. Oversee establishment of manufacturing facility, direct production and shipping of lens manufacturing devices to optical professionals. Support efforts to raise financing from system buyers and others.

Chief Financial Officer : Robert Abel & Associates - [1982-03 to 1984-06]
Responsible for all the company's financial affairs, financial reporting, banking relations and cash management, enabling of new project reporting system. Guided the company's return to profitability & solvency.

Chief Financial Officer : Superscope Inc. - [1981-03 to 1982-03]
Responsible for accounting, SEC reporting, banking, financing, investor relations, acquisitions. The company was listed on the NYSE at the time.

Vice President Finance, INFONET Division : Computer Sciences Corporation - [1972-06 to 1981-03]
Responsible for financial reporting and analysis, budgeting, contract administration and internal software development for CSC's fastest growing and most profitable division.

Senior Audit Supervisor : Grant Thornton, formerly Alexander Grant - [1964-06 to 1972-03]
Managed audits of public and private companies in manufacturing and services industries, including SEC reporting. 

Education

Bachelor of Science, Accounting and Business Management : Smeal College of Business (at Penn State University ) - [1958 to 1962]