In today’s environment of constant volatility and complexity, organizations are inundated with data yet often lack meaningful insights. The finance and accounting function has a unique opportunity to harness Big Data and the full spectrum of analytics—descriptive, diagnostic, predictive, and prescriptive—to enhance decision-making. However, collecting and reporting data is not the same as analyzing it to extract actionable intelligence. Compared to fields like marketing, sales, and supply chain management, finance has been slower to adopt advanced analytics. This course explores how CFOs and finance leaders can close that gap and transform their function into a true driver of strategic insight.
DESIGNED FOR
Current and aspiring CFO's and Controllers and/or Finance related professionals involved in teh budget process
BENEFITS
- Define the budget process
- Understand varying budget cultures and choosing the right one for your organization
- Walk through a 12-step cure for the typical Budgetaholic
- Use Balanced Scorecard Budgeting
- How to build a model that works
- How the right Chart of Accounts can simplify your work
- Building a volume sensitive model
- Budgeting to GAAP and for Board understanding
- Efficiently modeling payroll and benefits
- Identifying controllable and uncontrollable expenses
- Using variables to stress test your budget
- Understanding core personality types
- Learning the type of person you are
- Managing and coping with the budget team
- Dealing with A, B and C players
- Connecting through disconnection
- Identifying the ‘big picture” and your communications role
- Communicating so others can understand us
- Understanding a presentation’s anatomy
- Tips and tricks for budget presentation
HIGHLIGHTS
- Defining the budget process
- Common budgetary cultures and discussion of solutions
- Does your budget need an overhaul or just a tune up?
- How to make the budget flexible
- Making a better budget and maybe even a better you (or at least improving the perception of the budget work itself)
- How to build a flexible budget model that works?
- What are the steps we can take to budget for economic and external factors beyond our control?
- How the right Chart of Accounts can simply your work
- Budget and GAAP are not the same and why they are fine not to be
- Efficiently modeling payroll and benefits
- Identifying controllable and uncontrollable expense
- Using key variables to stress-test your budget
- Understanding your own leadership tendencies and applying them to your strengths?
- Understanding core personality types
- Learning what type of person you are?
- Managing and coping with the budget team
- Effectively dealing with the A, B, C and other players?
- Identifying the ‘Big Picture’ and your role in effective communication
- Communicating so others can understand us
- Understanding a presentation’s anatomy?
- Tips and tricks for budget presentations
PREREQUISITES
None
ADVANCE PREPARATION
None