Predictive Accounting: Driver-Based Budgeting and Rolling Financial Forecasts

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Predictive Accounting: Driver-Based Budgeting and Rolling Financial Forecasts

Learning Objectives

To identify the deficiencies with the traditional annual budget.
To know how to apply unit-level consumption rates with forecasts to project operational expenses.
To grasp how to include strategic and risk mitigation projects in expense projections.
To explore how to apply “predictive accounting” for capacity-sensitive driver-based rolling financial forecasts, what-if analysis, and outsourcing decisions.
To discover how to shift from bottom-up cost center consolidations to top-down modeling.
To acquire the knowledge of applying target costing for new products and services.

Course Description

Unveiling the Future of Financial Planning: From Historical Reporting to Predictive Costing.

Step into the future of financial planning with our dynamic presentation, where we navigate the transformation from traditional historical reporting to cutting-edge predictive costing strategies. We'll dive into the realm of capacity-sensitive driver-based rolling financial forecasts, delve into the power of what-if analysis, explore the intricacies of marginal cost assessment (including pricing strategies), and unveil the art of target costing for innovative products and services.

Gone are the days when the annual budgeting process was merely a ritualistic exercise. In today's fast-paced business landscape, it's imperative to stay ahead of the curve. The traditional budgeting approach is increasingly criticized for its rapid obsolescence, susceptibility to gamesmanship, and disconnection from strategic imperatives. But fear not, for we're here to address these deficiencies head-on.

Discover how to break free from the shackles of conventional budgeting. We'll empower you to harness the potential of driver-based expense projections that not only illuminate your financial landscape but also serve as a valuable tool for insightful decision-making.

Bid farewell to the days of budgetary constraints and disconnected strategies. Join us as we chart a course toward a future where financial planning aligns seamlessly with organizational goals. We'll demystify the complexities of budgeting, bridge the gap between accountants and executives, and equip you with strategies to overcome challenges that have long plagued the budgeting process.

Key Topics covered in this course:

What is broken with budgeting?
The shift to rolling financial forecasts
Dealing with resource capacity planning
Integrating Enterprise Risk Management with CPM
Apply Target Costing for new products and services

Join this CPE Accounting Webinar to revolutionize your approach to financial planning and position your organization for success in an ever-evolving business world.

Webinar Qualifies For

1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
1 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
1 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
1 CPE Credit of Accounting for Certified Management Accountants (CMA)
1 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
1 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
1 CPE Credit of Budgeting for Chartered Global Management Accountants (CGMA)
1 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
1 PL Credit of Accounting for Chartered Financial Analyst (CFA)
1 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
1 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
1 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
1 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
1 CPE Credit of Accounting for Iowa Licensed Public Accountant (IA-LPA)
1 PL Credit of Accounting for CIPM
1 CPE Credit of Accounting for Maine Licensed Public Accountant (ME-LPA)
1 CPE Credit of Accounting for Delaware Licensed Public Accountant (DE-LPA)

About Instructor

Gary Cokins, CMA, MBA

Advisor, Gary Cokins

Gary Cokins is an internationally recognized expert, speaker, and author in enterprise and corporate performance management improvement methods and business analytics. He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina at www.garycokins.com . Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA with honors from Northwestern University’s Kellogg School of Management in 1974.Gary began his career as a strategic planner with FMC’s Link-Belt Division and then served as Financial Controller and Operations Manager.

In 1981 Gary began his management consulting career first with Deloitte consulting, and then in 1988 with KPMG consulting. In 1992 Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS) now part of HP. From 1997 until 2013 Gary was a Principal Consultant with SAS, a leading provider of business analytics software.

Additional Information

Duration

1 Hour

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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Bryan Cheney, CPA (US)

Very informative.

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Predictive Accounting: Driver-Based Budgeting and Rolling Financial Forecasts

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Gary Cokins, CMA, MBA

Other Details

Additional Information

1 Hour

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.7

Bryan Cheney, CPA (US)

Subject Area

Unlimited Access Plan

Inclusions

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