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.

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

Overview

• Why is the budgeting process broken

  9 mins
• Match the budget method to its category

  12 mins
• Linking strategy and risk to the budget

  22 mins
• Marginal / Incremental expense Analyse

  30 mins
• The purpose of target costing

  37 mins
• The complete vision of performance management

  47 mins
• Getting started actions and resources

  54 mins