Published: December, 2021
This Finance webinar presents a dramatic approach to resource planning and budgeting. Activity-based budgeting assists in rationalizing what levels of resources are needed to fulfill the future demands of the business. The annual year-end budgeting process has become a fixed contract that managers strive for rather than react to changes not assumed when the budget was created. Therefore the annual budgeting process is often criticized as a fiscal exercise done by the accountants that become obsolete soon after it is published, prone to gamesmanship, cumbersome, not being volume sensitive, and disconnected from the strategy and needed risk mitigation spending.
You can resolve these deficiencies using capacity-sensitive driver-based expense projections.
Driver-based budgeting allows for quick scenario planning and far easier analysis of a growing organization whose future may look nothing like today. The budget can be periodically refreshed to be rolling financial forecasts extending beyond the fiscal year-end. By applying this, the secondary purposes for budgeting like cash flow projections for the treasury function can be achieved by implementing modeling techniques performed by business analysts.
This Online CPE webinar covers the following key topics:
In this webinar, internationally recognized author and expert speaker Gary Cokins explore how managerial accounting can become managerial economics.
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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.
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.
Analytics-Based Performance Management LLC. provides advisory services to organizations, consulting firms, and software vendors with their challenges to get started, implement, and leverage enterprise and corporate performance management (EPM / CPM) methods such as customer profitability analysis (using ABC), analytics, rolling financial forecasts, strategy maps, and balanced scorecards (KPIs).