Budgeting is criticized as obsolete soon after it is published. In this practical webinar, you will learn about the shift from historical financial reporting of past periods to predictive accounting such as:
- Capacity-sensitive driver-based budgeting
- Rolling financial forecasts, what-if analysis
- Marginal / incremental expense analysis
You will also learn how to resolve various deficiencies associated with budgeting and accounting.
Upon course completion, you will be able to:
- Identify the deficiencies of the traditional annual budget.
- Apply unit-level consumption rates with forecasts to project operational expenses.
- Implement strategic and risk mitigation projects in expense projections.
- Apply “predictive accounting” for capacity-sensitive driver-based rolling financial forecasts, what-if analysis, and outsourcing decisions.
- Shift from bottom-up cost center consolidations to top-down modeling.
Field of Study: Accounting, Finance
Program Level: Intermediate
Credit Type: Group Internet-Based for the Live Program.
Analytics-Based Performance Management LLC
Gary Cokins is founder of Analytics-Based Performance Management LLC, an advisory firm located in Cary, North Carolina. He is an internationally recognized expert, speaker, and author in advanced cost management and performance improvement systems. Prior to Analytics-Based Performance Management LLC, Mr. Cokins served as a Financial Controller and Operations Manager for FMC’s Link-Belt Division and as a management consultant with Deloitte, KPMG, and SAS. He is the author of books such as Performance Management: Finding the Missing Pieces to Close the Intelligence Gap, Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics and, Predictive Business Analytics. He received a B.S. in industrial engineering and operations research from Cornell University in 1971 and an MBA from the Northwestern University Kellogg School of Management in 1974.
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CPE Credit - Maximum Credit Hours: Please see above. You must attend at least 50 minutes to obtain credit. Fields of Study: Please see above. Teaching Method: Lecture. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state’s regulatory board.
Clear Law Institute has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
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