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Driver-based Budgeting and Rolling Financial Forecasts

  • Accountant
  • CPA/ABV
  • CPA (CA)
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • CFA
  • ChFC
  • ACCA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • FPAC
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: December, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Drowning in Data but Starving for Information
    6 mins
  • Two CPM Views: Hindsight and Foresight
    16 mins
  • ABC/M Assignment Nework
    27 mins
  • Risk Assessment Grid
    39 mins
  • Predictive Accounting
    50 mins
  • Vision & Mission
    69 mins
  • The Complete Vision of Performance Management
    86 mins

Course Description

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:

  • Identifying key budgeting process issues
  • Risk assessment grid
  • Linking Strategy and Risk to the Budget
  • Continuous Refreshing the Rolling Financial Forecast
  • How to deal with Resource Capacity Planning
  • Integrating Enterprise Risk Management with CPM
  • Risk managers: Friend or Foe of executives
  • The intelligence hierarchy

In this webinar, internationally recognized author and expert speaker Gary Cokins explore how managerial accounting can become managerial economics. 


Click to access more webinars on Trust & Estate Planning CPE | Tax Resolution CPE Webinar | Free Ethics CPE Webinar

Learning Objectives

  • What is broken with budgeting?
  • To explore the shift to rolling financial forecasts 
  • To identify how to deal with resource capacity planning
  • To explore integrating Enterprise Risk Management with CPM
  • To recall how to apply Target Costing for new products and services

Recommended For

  • This Online CPE/CE webinar is recommended for CPAs, CIA, CMAs, and any other professional interested in exploring finance from the budgetary to forecasting 
  • This Online CPE webinar is recommended for CPAs in Canada and other professionals at any level who desires to help their client making financial decisions

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Management Accountant (CMA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Corporate Finance for Certified Management Accountants (CMA)
  • 2 CPE Credit of Financial Analysis for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 CPD Credit of Finance for Chartered Professional Accountant (CPA Canada)
  • 2 CRE Credit of General finance principles and financial concepts for Certified Corporate FP&A Professional (FPAC)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPD Credit for CA - ICAEW
  • 2 CPD Credit for Chartered Certified Accountants (ACCA)
  • 2 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 2 CPD Credit for Chartered Accountants - Scotland
  • 2 CPD Credit for CPA - Ireland
  • 2 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 2 CPE Credit of Finance for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Finance for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CPD Credit of Finance for Accredited in Business Valuation (ABV)
  • 2 PL Credit for Chartered Financial Analyst (CFA)
  • 2 CPE Credit for Chartered Financial Consultant (ChFC)
  • 2 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 2 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 2 CPE Credit for Retirement Income Certified Professional (RICP)
  • 2 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 2 CPE Credit for Financial Services Certified Professional (FSCP)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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.

Presenter

About Presenter

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. 

About Company

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).

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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