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New Planning and Budgeting Techniques for the Year 2019

Tuesday, 11 December 2018  10:00 AM PST, 01:00 PM EST

Training Duration = 75 min                  Sponsored by Online Compliance Panel

Click Here to register $200.00

Click Here to register and receive CD recording $400.00

The current technology driven turbulent business environment presents many challenges to business managers. One primary challenge is the ability to predict and plan for the future which is unexpectedly unpredictable.

Changes are constant. Companies struggle to find ways to find manage resources and find ways to thrive and survive in this turbulent business environment.

Traditional budgeting has been overtaken by these constantly changing events as is currently outdated and irrelevant for the following reasons:

  • Too time consuming
  • Based on assumptions that may not be valid
  • Focuses on past events not future possibilities
  • Creates a "use it" or "lose it" mentality
  • Restricts creative thinking in resource management

Learning Objectives:

  • Rolling Forecast contrasted with traditional budgeting as the wave of the future
  • Impact of Key Business Drivers in forecasting process to cope with turbulent time
  • The creation of Key Business Drivers
  • Sample formats and attendee exercises provided for start-up rolling forecast
  • A broad and basic understanding of the Rolling Forecasts, their benefits and how to migrate to Rolling Forecasts with simple tools &techniques
  • Combining Rolling Forecast System with the Budget System

Why Should You Attend:

Rolling forecasts are the wave of the future. They are rapidly replacing traditional budgeting. This webinar outlines the critical differences and advantages of rolling forecasts over traditional budgeting. It challenges finance personnel to think outside the box and embrace the advantage of rolling forecasts.

This Webinar will focus on:

  • Using key business drivers and cast to influence and impact the future
  • Why rolling forecasts are critical in today's turbulent environment
  • Definition of key business drivers as the basis for rolling forecasts
  • The relevance of cash as key business driver
  • The core components of rolling forecasts
  • Six Step Excel based format to implement Rolling Forecasts
  • Two Step migration of Rolling Forecasts to the Budget System to capture Actuals vs Budget
  • The use of technology
  • Simple techniques to make it happen. From dashboards to driver based forecasts
  • Simple samples and exercises to reinforce teaching points
  • Using "What If" analogies to validate forecasts
  • Benefits of rolling forecasts
  • Pitfalls to prevent
  • Selling the culture changes to make rolling forecasts acceptable

Areas Covered

  • Why rolling forecasts are critical in today's turbulent and constantly changing environment
  • The five core components of rolling forecasts with simple explanations and exercise to reinforce the learning points
  • The use of key business drivers and cash to influence and impact the future
  • The role and use of technology in rolling forecasts
  • How to use "What If" analogies to validate rolling forecasts
  • How to focus on future possibilities rather than past events to manage resources
  • How to move from data based budgeting to driver passed forecasting as the foundation for resource allocation and utilization

Instructor

Carl Young is the owner of Carl Young Consulting, where he works as a turn-around consultant and business coach. Mr. Young is the former Chief Accountant and CFO of a $275M high growth technology company.

Mr. Young has published numerous books on finance and accounting, including Finance and Accounting Made Simple and Rules and Tools for Thriving in Chaotic Times. Mr. Young earned his MBA in Accounting & Taxation.