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Building a Better Budget in a Time of Uncertainty

Thursday, December 19
 9:00am - 1:00pm

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4.00 Credits

Member Price $149.00

Non-Member Price $214.00

Overview

Most financial leaders would agree that budgeting is easy when business and the economy are stable. When revenues and expenses are expected to remain the same, the process becomes merely an exercise in carrying over what was done before to the current year. However, what happens when we are not sure about how the market will react to our product? What happens when the competitive landscape changes? In this course, we will discuss budgeting techniques and considerations when business lacks stability. Through a combination of theory and real-world examples, we will explore how to build flexibility into our budget - so that it can inform and drive decision-making when we don’t quite know what is ahead. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives

After attending this presentation you will be able to...

  • Recall the difference between a forecast and a budget
  • Identify the difference between top-down and bottom-up budgeting
  • State the key elements of a flexible budgeting approach
  • Identify key cost drivers
  • State how behavioral biases may affect the budgeting process
  • Identify how headcount efficiency may be measured
  • Determine scenario planning
  • Recognize best practices and controls for managing budget changes

Highlights

The major topics that will be covered in this class include:

  • Budgets vs. Forecasts
  • Cyclicality
  • Core Earnings & Sustainable Growth
  • Identifying Key Forecast Drivers
  • Reasonableness in Forecasting
  • Approaches to Budgeting
  • Budgeting Variances
  • Horizontal Analysis
  • Flexible Budgeting

Designed For

CFOs & Controllers who are involved in the budgeting process.

Prerequisites

Must be a CFO or on track to become CFO, must understand basic budget processes

Preparation

None

Notice

You will receive an email from CPA Crossings via Webex with instructions to access the webinar.

Leader(s):

Leader Bios

David Peters, Peters Professional Education LLC

David R. Peters, CPA, CFP, CPCU, MST, MBA

David Peters is the Founder and Owner of David Peters Financial Group and Peters Tax Preparation & Consulting, PC. David has over sixteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry.

David was the first-ever Chief Financial Officer at Compare.com - a position he held for more than three years. Currently, David is a National Instructor for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. David holds four master’s degrees, and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. David was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.

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Non-Member Price $214.00

Member Price $149.00