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Previously titled: Critical Skills for Creating Great Budgets: Maximizing Profits, People and Power
Budgeting is both an art and a science. This advanced course covers both sides of budgeting. Learn how to apply leading-edge tools and methods to make your planning process more strategic and your budget process more flexible. Develop your budgeting and planning methods and solve high-level budget problems. Build a performance-based budget, establish spending priorities, and use budgeted action plans and cost initiatives. Finally, develop a process for calculating the return on investment for expenditures and for justifying the costs of a department, team, or job function.
- Measuring the Impact Strategy Has on Company Spending
- How Non-Financial Performance Impacts a Budget's Success
- Finding the True Drivers of Costs and Expenses
- Visionary and Game-Free Planning and Forecasting
- Ways to Rally and Strengthen the Process
- The Balanced Scorecard Approach to Budget Reporting
- Finding the Right Balance among People, Profits, and Controls
This course helps you build a set of decision-making processes early to make smart allocation choices that benefit your entire organization, and explore ways that your planning and budget processes can increase your company's potential for higher earnings.
Prerequisite: At least two years experience preparing budgeting and conducting planning
Advanced Preparation: None