We can all learn from others and improve our budgeting process by listening to our colleagues' wisdom and experience. This session takes a unique review of the fundamental budget issues faced by all and walks through a detailed modeling process intended to generate discussion and best practices to improve your organization's financial planning. From the beginning of the accounting process - `the chart of accounts' to the end of the process - `the valuation of the company', we cover the budgeting cycle via a live case model to learn best practices common to successful companies.
Learning Objectives
After attending this presentation you will be able to...
- Determine the advantages and value of a flexible budget model
- Build a flexible budget model
- Apply a comprehensive approach to the entire accounting process
Major Topics
The major topics covered in this class include:
- How to build a flexible budget model that works
- How the right Chart of Accounts can simply your work
- How to build a volume sensitive model
- Budgeting to GAAP and for the Board to understand
- Efficiently modeling payroll and benefits
- Identifying controllable and uncontrollable expense
- Using key variables to stress-test your budget
