2408490  |  Webcasts & Webinars  |  Intermediate  |  Scheduled

Driver-based Budgeting & Rolling Forecasts for Fast Analysis

Tuesday, July 7, 2020 8:00am - 10:00am

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The annual budgeting process is often criticized as an accounting exercise that is obsolete soon after it is published, prone to gamesmanship, cumbersome, not volume sensitive, and disconnected from the organization's strategy and risk management processes. You can resolve these deficiencies using capacity-sensitive driver-based 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 driver-based budgets can be periodically refreshed to create rolling financial forecasts extending well beyond the fiscal year end. Learn how managerial accounting can become managerial economics.

Objectives

  • Understand how to create driver-based budgets and rolling financial forecasts

Instructors


Designed For

CFOs, Controllers and other corporate financial professionals


Highlights

  • The shift to “predictive accounting” for Decision Making, Planning, and Budgeting
  • Problems with traditional annual budget processes
  • Develop a driver-based “operational budget” based on resource capacity planning
  • Classify resource capacities and their expenses as sunk, fixed, step-variable, and variable
  • Create closed loop capacity plans
  • Forecast demand for budgeting and rolling financial forecasts
  • Use probable scenario planning

This event is currently not available for registration. If you have any questions, please give us a call at 405-841-3800 or email us at cpe@oscpa.com.

Instructors

Gary Cokins

Gary Cokins, MBA, CPIM is an internationally recognized author and speaker. He spent 30 years working with the consulting practices of Deloitte, KPMG, EDS and SAS. Gary has a BS in Industrial Engineering from Cornell University and an MBA from Northwestern University’s Kellogg School of Management. His most recent books are Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics and Predictive Business Analytics published by Wiley and Sons.


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