Driver-based Budgeting and Rolling Financial Forecasts

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. 

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