- 1 hour on-demand video
- 3 articles
- 3 downloadable resources
- Full lifetime access
- Access on mobile and TV
- Certificate of Completion
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- 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.
- Prerequisites: A solid understanding of the interrelationship of the basic financial statements to one another and a moderate knowledge of Microsoft Excel.
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.
If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Budgeting Best Practices. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.
- Anyone interested in Finance, Accounting, or related fields.