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How to Make Budgets and Forecasts while dealing with Uncertainly

Best practices to incorporate uncertainty in financial planning and budgeting process

Course Description

Uncertainty can take many forms. It may manifest as a natural disaster, the deterioration of a foreign currency in which your company has operations, geopolitical changes, the merger or acquisition of a competitor, or a global pandemic. Regardless of form, uncertainty does illuminate a certain truth: companies must face volatile business conditions with nimble planning, budgeting, and forecasting.

Most companies find budgeting a challenge even under stable conditions. The process is often cumbersome, with managers spending too much time trying to work to a budget that is forced upon them. When economic forecasts fluctuate on a weekly or even daily basis, creating one reliable budget to coordinate business units and track performance for an entire fiscal year is extraordinary. Following the traditional budget process will likely prove unproductive.

You should listen to this talk as the speaker is a finance expert with over 15 years of experience in managing budgeting processes and speaks at conferences on various business and finance subjects.

In this talk, we will discuss how we can follow an efficient approach to making budgets during uncertainty

With this talk, you will be able to

1. understand challenges faced during budgeting and forecasting during current uncertain times

2. Strategies to make an effective budget during uncertainty

3. Best Practices

You will need to have a basic understanding of the budgeting process for which you can take my other course published on the platform.

Who this course is for:

  • Financial planning professionals
  • budgeting and forecasting professionals
  • CEOs


Goals

  • understand challenges faced during budgeting and forecasting during current uncertain times

  • Strategies to make effective budget during uncertainty

  • Best Practices in dealing with uncertainties during budget and forecasting

  • Under what causes uncertainties

Prerequisites

  • Basic Understanding of budgeting and forecasting.

  • you can go through my other courses for basic understanding

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Curriculum

  • Introduction to the course
    01:14
    Preview
  • Why we do budgeting
    05:53
  • Course Curriculam and what we will cover
    01:52
    Preview
  • How to Make Budgets and Forecasts
    01:51:34
  • Paper Excercise or we can use budgeting to be useful
    06:14
    Preview
  • Two Key Budgets and What They Contain
    05:17
  • Pre requirements of budgeting
    03:55
  • Sugguestive process of budgeting
    04:48
  • Three key components of budgets
    08:33
  • Practical process of budgeting forecasting
    09:36
  • Basis of revenue budgeting
    05:28
  • Revenue budget information needed and sugguested methology
    03:53
  • Revenue budget practical example
    03:51
  • Estimating the overall impact of revenue and setting up limits
    02:28
  • Cost and expenses budget information need and sugguested methodlogy
    08:16
  • Labour cost budgeting
    05:04
  • Other expenses budgeting process
    03:28
  • Capital expenditure budgeting
    05:03
  • Qualitative aspects of budgeting
    03:30
  • Marketing budget
    03:34
  • Introduction to course budgeting forecasting during uncertainty
    03:19
  • Causes of uncertainty in budgeting process
    04:25
  • Change the purpose of budgeting
    03:42
  • Budgeting for strategic success
    04:01
  • Keys aspects of strategic budgeting
    05:08
  • How often and how far we should do the forecasting and budgeting
    06:25
  • Principals of business planning during uncertainty
    05:08
  • Alternatives to traditional annual budgeting excercise
    06:34
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How to Make Budgets and Forecasts while dealing with Uncertainly
This Course Includes
  • 4 hours
  • 28 Lectures
  • Completion Certificate Sample Certificate
  • Lifetime Access Yes
  • Language English
  • 30-Days Money Back Guarantee

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