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Live Webcast Replay

Driver-based Budgeting & Rolling Forecasts for Fast Analysis


Total Credits: 2 including 2 Accounting - Technical

Average Rating:
   4.4
Category:
Accounting and Auditing |  ACPEN Industry Institute |  Industry
Faculty:
Gary Cokins, MBA, CPIM
Course Levels:
Intermediate
Duration:
2 Hours
Product Type:
Live Webcast Replay
License:
Access for 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

The annual budgeting process is often criticized as an accounting exercise that is obsolete soon after it is published, prone to gamesmanship, cumbersome, not volume sensitive, and disconnected from the organization's strategy and risk management processes. You can resolve these deficiencies using capacity-sensitive driver-based projections. Driver-based budgeting allows for quick scenario planning and far easier analysis of a growing organization whose future may look nothing like today. The driver-based budgets can be periodically refreshed to create rolling financial forecasts extending well beyond the fiscal year end. Learn how managerial accounting can become managerial economics.

Basic Course Information

Learning Objectives
  • Understand how to create driver-based budgets and rolling financial forecasts

Major Subjects
  • The shift to “predictive accounting” for Decision Making, Planning, and Budgeting
  • Problems with traditional annual budget processes
  • Develop a driver-based “operational budget” based on resource capacity planning
  • Classify resource capacities and their expenses as sunk, fixed, step-variable, and variable
  • Create closed loop capacity plans
  • Forecast demand for budgeting and rolling financial forecasts
  • Use probable scenario planning

Course Materials

Faculty

Gary Cokins, MBA, CPIM's Profile

Gary Cokins, MBA, CPIM Related seminars and products


Gary Cokins is an internationally recognized expert, speaker, and author in performance improvement systems and advanced cost management.

Gary received a BS degree with honors (Tau Beta Pi; Alpha Pi Mu) in Industrial Engineering/Operations Research from Cornell University in 1971. He was a two year varsity football letterman. He received his MBA with honors (Beta Gamma Sigma) from Northwestern University’s Kellogg School of Management in 1974.

Gary began his career as a strategic planner with FMC Corporation and subsequently served as Financial Controller and Operations Manager with FMC’s Link-Belt division. In 1981 Gary began his management consulting career first with Deloitte Consulting. Next with KPMG, Gary was trained on activity-based costing (ABC) by Harvard Business School Professors Robert S. Kaplan and Robin Cooper. 

 

With KPMG working with Dr. David Norton, Gary was also involved with initial research that led to the development of the Balanced Scorecard. Prior to joining SAS, Gary headed the National Cost Management Consulting Services for Electronic Data Systems (EDS), now part of HP. In 1996 Gary joined ABC Technologies which was acquired in 2002 by SAS, a leading provider of enterprise performance management and business analytics software, headquartered in Cary, North Carolina. At SAS he was a principal consultant and retired in 2012.

Gary was the lead author of the acclaimed An ABC Manager’s Primer (ISBN 0-86641-220-4), sponsored by the Institute of Management Accountants (IMA). Gary’s second book, Activity Based Cost Management: Making it Work (ISBN 0-7863-0740-4), was judged by the Harvard Business School Press as “read this book first.” A reviewer for Gary’s third book, Activity Based Cost Management: An Executive’s Guide (ISBN 0-471-44328-X) said, Gary has the gift to take the concept that many view as complex and reduce it to its simplest terms.” This book was ranked number one in sales volume of 151 similar books on BarnesandNoble.com. Gary has also written Activity Based Cost Management in Government (ISBN 1-056726-110-8). His five most recent books are Performance Management: Finding the Missing Pieces to Close the Intelligence Gap (ISBN 0-471-57690-5), Performance Management: Integrating Strategy Execution, Methodologies, Risk, and Analytics (ISBN 978-0-470-44998-1), Strategic Business Management: From Planning to Performance (ISBN 978-1-93735-081-9), Budgeting, Planning, and Forecasting in Uncertain Times (ISBN 978-1-94012-531-8), and Predictive Business Analytics (ISBN 978-1-118-17556-9).

Gary has participated and served on committees including: CAM-I, the Supply Chain Council, the International Federation of Accountants (IFAC), the Institute of Management Accountants, the AICPA, and the American Association of Accountants (AAA).

Gary serves on the board of advisers for organizations including an advisory board with Harvard Business School Professor, Robert S. Kaplan, for the International Monetary Fund (IMF).


Dates

Mon, Dec 20, 2021 - 08:00am to 09:46am CST
Fri, Dec 31, 2021 - 07:00am to 08:46am CST
Sun, Jan 02, 2022 - 09:00am to 10:46am CST
Fri, Jan 21, 2022 - 11:00am to 12:46pm CST
Wed, Feb 09, 2022 - 01:00pm to 02:46pm CST
Tue, Feb 22, 2022 - 09:00am to 10:46am CST
Mon, Mar 14, 2022 - 11:00am to 12:46pm CDT
Tue, Mar 29, 2022 - 01:00pm to 02:46pm CDT

Additional Info

Basic Course Information

Prerequisites Some budgeting experience is helpful
Advanced Preparation None
Course Developer Executive Education, Inc.
Designed For CFOs, Controllers and other corporate financial professionals
Yellow Book No
Original Recording Date 03/14/2019
Date Added to Catalog 01/09/2019

Additional Information

Instructional Delivery Method Group Internet Based
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Course Registration Requirements Online Registration

Promo Video

Reviews

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Overall:      4.4

Total Reviews: 145

Comments

Norman K - WARREN, Michigan

"Speaker was very good/informative!!"

Sanchez-Rodriguez Nubia S

"Thank you."

David S

"Best speaker and great job on presenting the content"

Roberta S

"Very well covered. "

Julie W - Claremont, Minnesota

"Great presentation! Thank you."

John P - GAFFNEY, South Carolina

" "

Gregory B

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Catherine S

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David C

"n/a"

Morgan S

"Great course!"

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