Forecasting Planning & Budgeting a dynamic environment Recorded

Summary

Forecasting Planning & Budgeting in today’s dynamic environment

Are the traditional budgetary and forecasting processes we use fit for purpose in today’s dynamic and competitive environment  where forecast time horizons are shortening and economic uncertainties increasing. a considers alternative techniques and their implications and means to improve forecast accuracy.

 

Venue details:  
Online, Chartered Accountants House,
Start date & time:  
12 March 2020 00:00
End date & time:  
31 January 2022 00:00
Price:  
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
5.00
CPD hours:  
5.50
Speaker details
No speakers have been associated with this event.

Description

Product type:  
CPD online course
Category:  
Strategic finance and management reporting

This course was recorded in autumn 2019

Key Features

What do we want from a budget?

  • Macroeconomic forecasting of our external environment – an essential precursor to business forecasting and budgeting
  • Traditional forecast and budgetary problems
  • Uncertainty
  • Lack of transparency
  • Forecast accuracy
  • Objectivity
  • Statistical and non-statistical techniques to improve forecast accuracyAlternatives to traditional approaches
  • True rolling forecasts
  • Driver based budgets
  • Activity based budgets
  • Output based budgets

Can we eliminate the annual budgetary cycle?

  • Human and cultural factors that decrease the budgetary effectiveness
  • Increasing management participation and buy into the budgetary process