Webinar

Driver-based Budgeting & Rolling Forecasts for Fast Analysis

The annual budgeting process is often criticized as an accounting exercise that is obsolete soon after it is published, prone to gamesmanship, cumbersome, not volume sensitive, and disconnected from the organization's strategy and risk management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

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

Additional Information

Designed For

CFOs, Controllers and other corporate financial professionals

Vendor

ACPEN

Advanced Preparation

None

Credits

2.00 Accounting

Prerequisite

Some budgeting experience is helpful

Course Number

192407523

Level of Knowledge

Intermediate

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