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Updated in [October 07th, 2023]
What does this course tell?
(Please note that the following overview content is from the original platform)
An effective budget is probably the most valuable tool in a company's arsenal for setting and meeting an annual profit target In this course we discuss how to plan and carry out an effective budgeting process and then how to use it to manage actual results and produce the bottom line goal envisioned by the budget We start by defining the tools that the planning department should develop on the front end : the launch directive and the data collection tools Then we move on to cover best practices for building the budget in each key area : revenues expenses cash flow capital expenditures and the balance sheet The course then provides proven tools for monthly budget management : addressing problem areas changing course and accountability If you would like Continuing Education Credit (eg CPE CE CPD etc) for this course it is available if you take this course on the Illumeo dot com platform under course title: Budgeting Best Practices Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance accounting treasury internal audit HR and more However in order to receive CPE credit the courses must be taken on an approved-by-the-governing-body' CPE platform and for over two dozen corporate professional certifications that is the Illumeo platform Go to Illumeo dot com to learn more
We considered the value of this course from many aspects, and finally summarized it for you from two aspects: skills and knowledge, and the people who benefit from it:
(Please note that our content is optimized through artificial intelligence tools and carefully reviewed by our editorial staff.)
What skills and knowledge will you acquire during this course?
During this course, participants will acquire the following skills and knowledge:
1. Understanding the importance of an effective budget in achieving annual profit targets.
2. Learning how to plan and execute an efficient budgeting process.
3. Developing the necessary tools for the planning department, such as launch directives and data collection tools.
4. Implementing best practices for building budgets in key areas, including revenues, expenses, cash flow, capital expenditures, and the balance sheet.
5. Utilizing proven tools for monthly budget management, including addressing problem areas, making necessary changes, and ensuring accountability.
6. Gaining knowledge on how to manage actual results and align them with the budgeted goals.
7. Acquiring the ability to use the budget as a tool for financial decision-making and performance evaluation.
8. Understanding the requirements for Continuing Education Credit (CPE, CE, CPD) and how to obtain them through the Illumeo platform.
Who will benefit from this course?
This course on Best Practices in Corporate Budgeting will benefit professionals in various roles, including:
1. Finance Managers and Directors: They will gain insights into effective budgeting processes and techniques to set and meet profit targets. They will also learn how to manage actual results and align them with the budget.
2. Accounting Professionals: They will learn about best practices for building budgets in key areas such as revenues, expenses, cash flow, capital expenditures, and the balance sheet. This knowledge will help them in accurately recording and reporting financial information.
3. Planning Department Staff: They will understand the importance of developing tools like launch directives and data collection tools for effective budget planning. This will enable them to streamline the budgeting process and improve overall efficiency.
4. Internal Auditors: They will gain a deeper understanding of budget management and accountability. This knowledge will help them identify problem areas, suggest changes, and ensure compliance with budgetary guidelines.
5. HR Professionals: They will benefit from understanding the budgeting process and its impact on resource allocation. This knowledge will enable them to align HR strategies with the overall budget and make informed decisions regarding workforce planning and compensation.
6. Professionals seeking Continuing Education Credit: This course is eligible for Continuing Education Credit (CPE, CE, CPD, etc.) for various professional certifications. Taking this course on the Illumeo platform will allow professionals to earn credits in finance, accounting, treasury, internal audit, HR, and more.
Course Syllabus
Introduction
Supporting Materials
Review and Test
