Planning and Budgeting for Non-Financial Professionals in a COVID-19 Environment
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Speaker : CARL YOUNG
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When : Thursday, June 13, 2024
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Time : 01 : 00 PM EST
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Carl Young is an Author, Speaker, Trainer, Consultant, and Coach. He holds an MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high growth technology based company. He has over 25 years of senior-level business management experience. In addition, he has over 25 years of training experience in finance, accounting, and business management. Former CEO of his own small parts manufacturing company as well as a former Senior Financial Associate of a major consulting firm.
Carl is a member of the following organizations: the American Society of Corporate Controllers, Council of Experts (investment firm Gersen & Lehrman), Society of Industry Leaders (sponsored by Standard & Poors), and the National Association of Accountants.
An engaging and entertaining speaker trainer who draws from his experience as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include plenty of audience interaction. He has branded himself as Mr. Simplicity! His goal is to make finance and accounting relevant to non-financial professionals using tools and techniques.
Non-financial professionals are required to take leading roles in the control of financial resources. This requires a basic knowledge and understanding of the basic tools and techniques of planning & budgeting. This is especially critical in a COVID-19 environment when recourses are scarce yet profit expectations remain high. This Webinar provides basic tools, techniques, methods and models related to planning and budgeting specifically for non-financial professionals to enhance their knowledge and understanding of planning & budgeting with specific concerns and challenges in a COVID-19 environment
- Basic background and understanding of planning and budgeting
- Fundamentals of planning and budgeting as relates to finance and accounting
- Relevant reporting review and analysis of planning and budgeting
All essential elements of finance and accounting are covered in this webinar which is three courses in one.
Areas Covered
- Planning and Budgeting Overview to include the plan/forecast as the starting point
- How company goals are converted to
- Revenue
- Expenses
- Profit/Surplus - How goals are expressed in plans/forecasts and specific budgets
- Financial-Revenue Cash
- Operating: Groups, Departments and Projects
- Expressed as Profit or Cost Centers - Separate Budgets
- Project/Activity
- Capital
- Cash - Finance and Accounting basics relating to planning and budgeting
- Overview and understanding and budgeting basics:
- The basis for decisions
- Control of revenue and expenses
- Not authority to spend
- Budgets measured against actuals
- Must reflect reality and uncertainty in a COVID-19 environment - COVID-19 Challenges and Concerns relating to Planning and Budgeting:
- Dealing with turbulent uncertain environment
- Creating new budgeting norms based on survival
- Flexibility is key - The family vacation model is used to simplify planning and budgeting to non-financial professionals.
- Family Vacation Planned to include transportation, lodging, activities and events
- Review funds available to match plans
- Adjust match reality - Planning and budgeting simplified:
- Plans come first
- Budget specifies plan - Adjust budget based on reality
- Types of Budget Groups and how they operate in simplified terms:
- Profit Centers-Revenue and Expenses
- Cost Centers-Expenses
- Projects: Revenue and Expenses or Expenses only
- Activity: Same as Projects
- Capital Budgets: Equipment purchases
- Cash Budget: Sources and Uses of Cash - Measuring actual performance to budgets:
- Based on the chart of accounts explained
- Review and analysis explained
- Reforecast based on review and analysis explained - Basics of expense control explained:
- Categories of expenses explained:
1. Personnel and Related Costs and Benefits
2. Controllable expenses
3. Pre-determined allocated
- Reducing expenses to increase profits
Course Level - Beginner / Intermediate and all Non-Financial Professionals.
Who Should Attend
This Webinar is primarily designed for all Non-Financial Professionals who have the management and control of resources. A great refresher also for financial professionals to enhance their knowledge of planning and budgeting.
Why Should You Attend
Non-financial professionals need the skills and tools to analyze financial statements in the management control and application of resources for which they are responsible. There are several myths about accounting that must be overcome to gain a basic knowledge of accounting and how transactions are transformed into statements. These myths are converted to meaning. Doubt and uncertainty about accounting are removed with simple to understand and apply tools and techniques.
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$160.00
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