Forecasting and Budgeting

Building a Better Budget in a Time of Uncertainty v1.1

Most financial leaders would agree that budgeting is easy when business and the economy are stable. When revenues and expenses are expected to remain the same, the process becomes merely an exercise in carrying over what was done before to the current year. However, what happens when we are not sure about how the market will react to our product? What happens when the competitive landscape changes? In this course, we will discuss budgeting techniques and considerations when business lacks stability. Through a combination of theory and real-world examples, we will explore how to build flexibility into our budget – so that it can inform and drive decision-making when we don’t quite know what is ahead.

Learning Objectives:

After completing this course, participants should be able to:

  • Recall the difference between a forecast and a budget
  • Identify the difference between top-down and bottom-up budgeting
  • State the key elements of a flexible budgeting approach
  • Define key cost drivers
  • State how behavioral biases may affect the budgeting process
  • Identify how headcount efficiency may be measured
  • Define scenario planning
  • Recognize best practices and controls for managing budget changes


Prerequisites/Advanced Preparation:

A basic understanding of budgeting techniques


Speaker / Author:

David R. Peters is a Certified Public Accountant (CPA) and Certified Financial Planner (CFP), with over fifteen years of experience in financial services. He was formerly the Chief Financial Officer of Compare.com and has been a financial advisor since 2015. He holds master's degrees in accounting, business administration, and financial services and is pursuing a Ph.D. in Financial Planning & Retirement Income at The American College. He is currently a continuing education instructor for the American Institute of Certified Public Accountants, Surgent, and Kaplan Professional, and the President and owner of David Peters Financial Group Inc, Peters Tax Preparation & Consulting PC, and Peters Financial LLC.

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Price (USD)

Standard: $137.23

Details

Course Code : 99PET46-v1.1

Release Date : 05/07/2024
Expire Date : 05/31/2026
Credits :
CPE 5.50
QAS 5.50
Length : 4hr 35min
Course Level : Intermediate
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Finance

Theme : Forecasting and Budgeting

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