Budgeting consumes a massive amount of time and resources. It's a stressful and busy time.
Are there ways to improve the effectiveness of the investment we make in the budget process? Can we make better budgeting decisions that lead to higher performance?
In this course, I walk step-by-step through the budget formation process. The purpose and role of the budget can best be explained in the context of strategic planning. We'll explore which analyses can be done throughout the year to take pressure off the very busy budgeting season. Some lessons cover the nuts and bolts of budget reporting and budgeting tools.
Publication Date: February 2024
Topics Covered
- The master budget and sub-budgets
- The budgeting process
Learning Objectives
- Identify the relationship between strategic planning and budgeting
- Recall key steps in the budgeting process
- Recognize the difference between top-down and bottom-up budgeting
- Identify when Key Performance Indicators (KPIs) are developed relative to budget development
- Identify the term for the budgeting method in which top leaders allocate expenses in a block that managers further allocate
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Finance (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Rob Stephens
Rob Stephens is the Founder of CFO Perspective, which provides continuing education courses for CPAs and financial management courses for business advisors and staff. He has been quoted in Forbes, U.S. News and World Report, Bloomberg Businessweek, and many other news sources.
Rob has a 30-year career that includes serving as CFO, Director of Operations, and SVP of Finance. Rob is an adjunct instructor for the MBA program at Gonzaga University.
Rob holds a Masters of Science in Personal Financial Planning and a Graduate Certificate in Financial Therapy from Kansas State University. He received a B.A. in Business Administration from the University of Washington and is a CPA.