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21WM-0001: How COVID-19 Broke Traditional Budgeting and What You Should Do Instead (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Thursday, May 13, 2021
Time 10:00am - 11:00am
Central Time
Location Online
CPE credits CPE 1.0
Field(s)
of study
Finance - Technical (1.0)
Instructor Steve Player, CPA
Future Ready Finance
Fees
Future Ready Finance Member Fee $49.00
Standard Member Fee $49.00
Standard Nonmember Fee $59.00

Description

Too often, organizations become trapped in an operating budget developed for an expected future that never happens. When reality strikes and uncertainty unravels all those hours spent negotiating targets, what's your next step? These challenges became reality for most organizations in 2020 as COVID-19 broke the budgeting process. And unfortunately, 2021 looks just as uncertain.

Find out how to develop more effective budgeting processes that are more in line with modern-day realities and better able to respond to unexpected shifts. Gain clarity on how current budgeting practices -- which are rooted in concepts from the 1920s -- are broken for today's business world. Learn from the examples of leading-edge companies that have implemented new, better ways to plan in the 21st century.

This webinar features live instruction from top-rated speaker Steve Player.

Who should take this program?

CPAs, controllers, treasurers, finance managers and CFOs in business and industry

Major subjects

  • What's wrong with traditional budgeting
  • Dealing with uncertainty
  • Becoming future ready
  • Tips for setting more effective targets
  • Dynamic action planning
  • Continuous resource allocation
  • Rolling forecasts
  • Companies that have moved beyond budgeting
  • Tips for developing a winning financial planning and analysis (FP&A) function

Learning objective(s)

  • Examine how traditional budgeting practices break down when faced with high uncertainty, such as what happened in 2020 and is facing us again in 2021.
  • Review how companies have overcome the weakness of traditional budgeting to create more effective ways to plan.
  • Learn about steps you should consider taking to dramatically improve your planning process.

Notes:

Course code Code 21WM-0001
Sponsor Minnesota Society of CPAs
NASBA ID#: 139884
Level Basic
Format Group Internet Based
Prerequisites Prereq. General knowledge of your existing planning, budgeting and forecasting processes recommended.
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.

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