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This two-part course will help you identify and address the many pitfalls that can occur throughout your annual budgeting and planning process. You will explore common budgeting and planning challenges and identify strategies and solutions for generating positive outcomes.
Assess the effectiveness of your firm's planning process
Explain the benefits of having a well-structured annual planning process
Articulate your organisation's mission, strategies, and limitations--and how they impact the budget
List the minimum requirements to have an effective budget system
Document the various pitfalls in your processes that should be avoided
Identify which of the four methods you currently use to develop your operating budget
Explain the differences among a forecast, a projection, and a budget
Estimate expenses in your operating budget using the organisation's most common methods
Develop appropriate rewards, recognition, and incentives to drive ethical and frugal behaviours
Implement budget cuts with surgical skill
Add continuous improvement into the budgeting and planning processes
Assess the quality of the organisation's variance reporting.
Work with the organisation's leaders to build a culture of accountability
Start to define the specific responsibilities of each person in the budget process
CGMA designation holders qualify for discounted pricing on this product. In order to receive your special pricing, you must be registered and signed in. View the complete list of development products available on CGMA.org.