3-Hour Virtual Seminar on Budgeting and Financial Forecasting Bootcamp

Duration:
3 Hours  
Instructor
Carl Young

Non- Financial professionals need the skills and tools to analyse financial statements in the management control and application of resources for which they are responsible.

Recorded
Refund Policy
HRCI

The use of this seal confirms that this activity has met HR Certification Institutes (HRCI) criteria for recertification credit pre-approval.
This activity has been approved for 3 HR (General) recertification credit hours toward aPHR, ...more

Overview

Non- Financial professionals need the skills and tools to analyse financial statements in the management control and application of resources for which they are responsible. There are several myths about accounting that must be overcome to gain a basic knowledge of accounting and how transactions are transformed into statements. These myths are converted to meaning. Doubt and uncertainty about accounting are removed with simple to understand and apply tools and technique. 

This course is ideal for anyone involved in financial management, including financial analysts, business mangers and entrepreneurs. It is also suitable for anyone looking to develop a better understanding of financial planning and analysis including those in accounting & finance roles. Whether you are a seasoned professional or just starting. This course is perfect for anyone looking to take their financial skills to another level. 

Why you should Attend

Non-Financial Professionals are required to take leading roles in control of financial resources. This requires a basic knowledge and understanding of the basic tools & techniques of planning & budgeting. This is especially critical in a COVID-19 environment when recourses are scarce, yet profit expectations remain high. This Webinar provides basic tools, techniques, methods & models related to planning & budgeting specifically for non-financial professionals to enhance their knowledge & understanding of planning & budgeting with specific concerns & challenges in a COVID-19 environment.

  • Basic background & understanding of planning & budgeting
  • Fundamentals of planning & budgeting as relates to finance & accounting
  • Relevant reporting review & analysis of planning & budgeting

Areas Covered in the Session

  • Planning & Budgeting Overview to include the plan/forecast as the starting point
  • How company goals are converted to
    • Revenue
    • Expenses
    • Profit/ Surplus
  • How goals are expressed in plan/forecasts & specific budget
    • Financial-Revenue Cash
    • Operating: Groups, Departments & Projects
    • Expressed as: Profit or Cost Centers
  • Separate Budgets
    • Project/Activity
    • Capital
    • Cash
  • Finance & Accounting basics relating to planning & budgeting
  • Overview & understanding & budgeting basics:
    • The basis for decisions
    • Control of revenue & expenses
    • Not authority to spend
    • Budgets measured against actuals
    • Must reflect reaity and uncertainty in a COVID-19 environment
  • COVID-19 Challenges & Concerns relating to Planning & Budgeting:
    • Dealing with turbulent uncertain environment
    • Creating new budgeting norms based on survival
    • Flexibility is key
  • The family vacation model is used to simplify planning & budgeting to non-financial professionals
    • Family Vacation Planned to include transportation, lodging, activities & events
    • Review funds available to match plans
    • Adjust match reality
  • Planning & budgeting simplified:
    • Plans come first
    • Budget specifies plan
    • Adjust budget based on reality
  • Types of Budget Groups and how they operate in simplified terms:
    • Profit Centers-Revenue & Expenses
    • Cost Centers-Expenses
    • Projects: Revenue & Expenses or Expenses only
    • Activity: Same as Projects
    • Capital Budgets: Equipment purchases
    • Cash Budget: Sources & Uses of Cash
  • Measuring actual performance to budgets:
    • Based on chart of accounts explained
    • Review & analysis explained
    • Reforecast based on review & analysis explained
  • Basics of expense control explained:
    • Categories of expenses explained:
      • Personnel & Related Costs & Benefits
      • Controllable expenses
      • Pre-determined allocated
  • Reducing expenses to increase profits

Who Will Benefit

  • All Non-Financial Professionals who have the management and control of resources. A great refresher also for financial professionals to enhance knowledge of planning & budgeting

Speaker Profile

Carl Young is an Author, Speaker, Trainer, Consultant, and Coach. He holds a MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high growth technology based company. He has over 25 years of senior level business management experience. In addition, he has over 25 years of training experience in finance, accounting and business management. Former CEO of his own small parts manufacturing company as well as former Senior Financial Associate of major consulting firm.

Carl is a member of the following organizations: American Society of Corporate Controllers, Council of Experts (investment firm Gersen & Lehrman), Society of Industry Leaders (sponsored by Standard & Poors), and the National Association of Accountants.

An engaging and entertaining speaker and trainer who draws from his experience as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include plenty of audience interaction. He has branded himself as Mr. Simplicity! His goal is to make finance and accounting relevant to non-financial professionals using tools and techniques that are simple to understand and apply.
Access Recorded Version
One Attendee / Group Attendees

Unlimited Viewing Recorded Version for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)