New Age Budgeting (1.5hrs)

Few would argue that traditional budgetary processes are time consuming, creaking at the seams, lacking transparency and add little value and insights to managers throughout the business. Yet the majority of organisations still pursue budgetary processes that were developed well over 90 years ago during an age of much greater stability and certainty. This module explores today’s shortcomings, the real needs for the 21st Century and alternate, more advanced approaches.

On completion of this course you will understand:

• The shortcomings in traditional budgetary processes and why should we change
• The real purpose of a budget and what a good budget should seek to achieve
• More advanced non-statistical and statistical techniques to improve forecast and budgetary accuracy
• How costs are really driven and the impact on our cost understanding and forecasting
• Budgetary alternatives being practiced today - Rolling forecasts / flexible budgets, Activity or Driver Based Budgeting and Output Budgeting

This course is authored by John McKenzie. John has over 20 years' experience during which he has undertaken ABC/M implementation work at a range of companies including Halifax Plc, British Airways, Seeboard Electricity, London Electricity, British Gas, ADNOC (Abu Dhabi National Oil Company), Sharwoods, Vauxhall Motors, IBC Vehicles, MATAV(Hungarian Telecom), Glasgow City Council, Royal Sun Alliance, NatWest, and Unilever International. His book ABC/M to the Max was published in 2008.

CPD Points = 1.5

A CPD certificate of completion will be provided by BPP Professional Education Limited upon successful completion of the online course.

Pass Assured Guarantee does not apply for this course.